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Yes Bank Board approves fundraising plan through FPO

Private sector lender, Yes Bank on Tuesday announced that “Its board has approved the plan to raise funds through a further public offering (FPO).”

In a filing with the exchange, Yes Bank said, “The Capital Raising Committee of the Board of Directors of the Bank (CRC), at its meeting held earlier today i.e., July 7, 2020, has approved raising funds by way of a further public offering (FPO).”

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“The meeting of the CRC of the Bank is scheduled to be held on or after July 10, 2020, to consider and approve, amongst other things, the Price Band and discount, if any, as permitted under the provisions of the SEBI ICDR Regulations,” the filing added.

According to the reports Yes Bank is likely to raise Rs 15,000 crore through FPO