The board of directors of Yes Bank approved the proposal of raising Rs. 5,000 crore in a meeting. The said amount will be raised through institutional planning and sale of shares through rights issues. Also, this amount will be in addition to the Rs. 10,000 crore sanctioned on February 7.
Yes Bank informed stock market about its plan
The bank intimated the stock market about the decision of raising Rs. 5,000 crore through a notice. The notice was sent to get approval of the stock market. The bank could get funds in installments. Also, it can take any route like right issue, public issue and eligible institutional planning to achieve the objective.
Yes Bank getting help
Investors are taking interest in Yes Bank after the State Bank of India lend a helping to the beleaguered Yes Bank. Also, the Federal Bank has proposed an investment of Rs. 300 crore to help the troubled bank sail through the difficult times. According to an arrangement, the Federal Bank will own 30 crore shares of Yes Bank at a cost of Rs. 10 per equity share of Yes Bank.