Yes Bank eyes additional $600m after raising $270m from marquee investors

Money Control | Aug 16, 2019 at 9:41 AM
  • Yes Bank is planning to raise an additional $600 million from large investors to bolster its capital buffers.
  • In a late evening exchange filing on August 15, Yes Bank confirmed that it has sold around 231 million shares to Societe Generale (18.75 percent of 231 million), Key Square Master Fund (16.2 percent), BNP Paribas Arbitrage (14.43 percent), HDFC Balanced Advantage Fund (10.26 percent) and Key Square Master Fund II (5.88 percent), among other shares.
  • Yes Bank’s successful QIP in a weak equity market propelled the bank’s stock by six percent on August 14, before it closed at Rs 76.55 on BSE, but raising more capital will be crucial for the bank if it intends to comply with capital adequacy regulations.