INSUBCONTINENT EXCLUSIVE:
Shares of YES Bank advanced nearly 6 per cent in Wednesday's session after the lender said its board of directors will meet on Friday to
consider fundraising through issue of fresh equity.
The scrip was trading 5.84 per cent up at Rs 67.10 at around 9.20 am (IST), while the
benchmark BSE Sensex was up 225 points, or 0.55 per cent, up at 41,045 at around the same time.
In a regulatory filing, YES Bank said that a
meeting of the board of directors of the company is scheduled on November 29 to consider and approve raising of funds by issue of
equity/equity-linked securities through permissible modes, subject to necessary shareholders/regulatory approvals, as applicable.
The lender
has earlier indicated that it intends to raise up to $1.2 billion by December.
In an earlier filing, YES Bank had said that the bank intends
to convene a meeting of its board of directors by end of this month to finalise its capital raise
It has already raised $273 million via the route of QIP in August and announced the binding offer from a global investor of $1.2
billion.
The private sector bank recently posted a loss of Rs 600.08 crore for the quarter ended September 30 due to a one-off DTA
adjustment of Rs 709 crore on account of change in corporate tax rate regime
Excluding this one-time hit, adjusted profit was Rs 109 crore
YES Bank had posted a net profit of Rs 964.70 crore in the corresponding quarter last year