Yes Bank to raise up to Rs 10,000 cr

Mumbai : Private sector lender Yes Bank said it will seek shareholders’ nod to raise 10,000 crore through an issuance of debt instruments at the 18th Annual General Meeting (AGM) on Friday, 15 July, 2022. The bank further said that it may raise funds in one or more tranches in domestic and/or overseas market from eligible investors on private placement basis. For enabling the bank to evaluate a potential fund raising at an appropriate time, the board of directors seek approval from members of the bank for borrowing/raising funds in Indian/foreign currency by issue of debt securities up to Rs 10,000 crore, Yes Bank said in a regulatory filing. The bank said it plans to borrow the funds through debt securities including nonconvertible debentures, MTN (Medium-Term Notes), bonds (including forming part of tier I/II capital). Meanwhile, Yes Bank MD and CEO Prashant Kumar said the bank targets recoveries and upgrades of more than Rs 5,000 crore in the FY23. While the bank expects to improve the Retail and MSME Advances Mix further, and aims for a CASA ratio of 35%. The bank has announced its annual report for FY22.