India: YES BANK's board okays fundraising up to $1.33b

YES BANK on Friday said that its board has approved of raising funds of up to ₹10,000 crore. “Raising of funds for an amount aggregating up to ₹10,000 crores (Rupees Ten Thousand Crores), in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of securities, through one or more permissible mode(s) including but not limited through a Qualified Institutions Placement/ Rights Issue / Global Depository Receipts / American Depository Receipts / Foreign Currency Convertible Bonds / Further Public Offering or a combination thereof, subject to shareholders’ enabling approval,” the bank said in the regulatory filing.