Yes Bank to raise USD 1 bn via share sale
New Delhi: Private sector lender Yes Bank today said it seeks to raise USD 1 billion (about Rs 6,700 crore) by selling shares by way of a public issue, preferential issue or issuance of ADR and GDR.
The decision to this effect would be taken in annual general meeting of June 12, Yes Bank said in regulatory filing on stock exchanges.
The fund would be raised through "qualified institutions placement, private placement or a combination thereof of equity shares or through an issuance of Global Depository Receipts (GDRs), American Depository Receipts (ADRs) and Foreign Currency Convertible Bonds (FCCBs')...," it said.
Besides, the bank also proposes to raise funds in Indian or foreign currency by issue of debt securities including but not limited to non-convertible debentures, MTN (MediumTerm Notes), bonds including bonds forming part of Tier I/Tier II capital up to Rs 30,000 crore.
Yes Bank reported a 29 per cent surge in March quarter net at Rs 1,179 crore bolstered by high loan growth and a dip in dud loans which boosted its core interest income.
For the fiscal year 2018-19, its net profit rose 26.9 per cent to Rs 4,224 crore. On the asset quality front, the gross non-performing assets ratio narrowed to 1.28 per cent 1.72 per cent.
Safaricom has suffered a voice and data outage affecting critical transmission equipment because of a damaged fibre link, Kenya’s biggest telecoms company said.
Rahul Gandhi today alleged there was certainly a "scam" in the controversial Rafale jet deal with France and accused Defence Minister Nirmala Sitharaman of doing a "flip-flop" on the secrecy clause.
Arvind Kejriwal announced that financial assistance for Resident Welfare Assocations (RWAs) and NGOs registered with the Delhi Parks and Gardens Society (DPGS) for maintenance of parks and gardens would be doubled from Rs 1 lakh to Rs 2 lakh.
U.S. director of intelligence Dan Coats said he in no way meant to be disrespectful toward President Donald Trump with what he called his “awkward response” to news of a second planned Trump summit with Russian President Vladimir Putin.
Volkswagen is renting parking spaces from August to stockpile vehicles which cannot be sold due to bottlenecks caused by new engine emissions tests, a spokeswoman said
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.