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YES Bank Board members to consider raising funds on December 21

By Saima Siddiqui 
Updated Date

Mumbai: Private lender YES Bank’s Board members are likely to meet to consider a fund raise on December 21 via issue of equity shares, depository receipts or other modes, the company said in an exchange filing.

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“…a meeting of the Board of Directors of YES Bank is scheduled to be held on December 21, 2021 to consider seeking shareholders’ approval for raising of funds by issue of equity shares/ depository receipts/ convertible bonds/ debentures / warrants / any other equity linked securities, through permissible modes, subject to necessary approvals from shareholders/ regulators, as applicable,” the bank said in a stock exchange filing on Thursday.

The company said that the existing approval of the shareholders for this purpose is valid till February 28, 2022.

YES Bank shares were down 1.82% to settle at 13.50 apiece on NSE.

Notably, YES Bank has reported a net profit of 225 crore in the September quarter, as compared to 129 crore in the year-earlier quarter.

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Meanwhile, net interest income was down 23% to 1,512 crore on a year-on-year basis though non-interest income registered a sharp jump of 30% to 778 crore.

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