Yes Bank mulls raising $1 billion from share sale to public
The bank is expected to commence its capital raise soon, which could help Yes Bank raise its Tier-1 core capital ratio to around 10 per cent, from 6.3 per cent as of March, it said.
Yes Bank, which received Rs 10,000 crore of capital infusion from eight banks including the SBI, can issue instruments including shares or convertible bonds.
Yes Bank CEO Prashant Kumar had said the bank plans to raise Rs 15,000 crore to boost its strength.
In its post results presentation, Yes Bank said the management and board of directors have made an assessment of its ability to continue as a going concern, based on the projected financial statements for the next 3 years and are satisfied that the proposed capital infusion and the Bank's strong customer base and branch network will enable the Bank to continue its business for the foreseeable future, so as to be able to realise its assets and discharge its liabilities in its normal course of business.
AdvertisementWhile further reduction in deposits lost post moratorium may cast material uncertainty, particularly in the current Covid scenario, the Bank under the leadership of new management and reconstituted board is confident that it can tide over the current issues successfully. This belief is reinforced by the pedigree of new investors of the Bank (led by
SEE ALSO: The boycott of China’s products will be easier said than done – smartphones, ACs and cars may become more expensive
India asks China to 'reassess' its actions after the violent clash in Galwan Valley
Popular on BI
- Scheduled international passenger flights to remain suspended till Jan 31, says DGCA
- The next three months are gonna be costly
- India’s most valued bootstrapped companies in 2021 — World’s biggest COVID-19 vaccine maker rules the roost
- Amazon outage causes seven hour disruption at crypto exchanges, raises questions on 'decentralisation'
- Global cellular IoT module shipments reportedly grow 70% in third quarter