Yes Bank shareholders approve Rs 10,000 crore fund proposal

YES Bank

Private lender Yes Bank today stated that its shareholders have given the nod to proposal for raising Rs 10,000 crore capital with the requisite majority.

As many as 98.78 percent votes were received in favour of the resolution to authorise the lender for raising capital via issuance of equity shares or other securities, said the lender in a regulatory filing.

“We would like to inform that the special resolution…has been approved by the members with requisite majority,” said Yes Bank.

Also Read: YES Bank unveils ‘YES MSME’ scheme: Details Inside

While revealing its financial results for quarter ended December 31, 2020 on January 22, Yes Bank had commented on the Rs 10,000 crore fund raise plan through various modes.

The bank, in its notice for the postal ballot on the capital raise plan said that it wants to strengthen its common equity further to tier 1 (CET 1 or core capital) ratio and to ensure that it has required capital to support growth and maintain adequate buffers in a bid deal with any unforeseen impact. And it had proposed to raise equity capital not exceeding Rs 10,000 crore.

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