YES Bank raises fundraising size to Rs 15,000 crore

MUMBAI: Private lender YES Bank on Thursday said it has increased its fundraising size to Rs 15,000 crore from Rs 10,000 crore.

In a late evening release, the bank said it will raise the additional amount through shares, ADRs, GDRs or convertible bonds.

The lender has already raised over Rs 10,000 crore from SBI and other key banks and financial institutions through sale of equity under its reconstruction plan approved by the government and the Reserve Bank of India (RBI).


Additionally, the RBI has also extended a Rs 60,000-crore credit line to YES Bank for meeting obligations, as per sources.

YES Bank will need additional equity capital of up to Rs 13,000 crore in next one-two years for meeting its regulatory norms for maintaining capital level, according to rating agency ICRA.

The agency said that the quantum and timing of capital raise is important for maintaining the capital ratios above the regulatory levels in future.