Yes Bank seeks shareholders’ nod for raising up to ₹10,000 cr. debt capital
The Hindu
New Delhi
Yes Bank will seek shareholders’ approval next month to raise debt capital of ₹10,000 crore through various modes on a private placement basis.
The bank’s annual general meeting is scheduled for July 15, 2022.
“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 ₹10,000 crore,” Yes Bank said in a regulatory filing.
The bank said it planned to borrow the funds through debt securities, including non-convertible debentures, MTN (medium-term Notes), bonds (including forming part of tier I/II capital). It may also include long-term infrastructure bonds or such other securities, including securities to be issued from its offshore branches and/or the IBU (IFSC Banking Unit) situated at the GIFT City IFSC.
The funds may be raised in one or more tranches in domestic or overseas markets, it said.
Also, the bank will seek shareholders’ approval for amendments to the employees stock option scheme (YBL Employee Stock Option Scheme 2020).
The bank intends to revise the maximum limit of Options to be granted per individual employee. The proposal has been made considering the ESOP allocation for two financial years (FY2022 and FY2023). Further revisions to this, if required, shall be recommended for approval to shareholders accordingly, it said.
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