Banking & Finance
Yes Bank to Raise $2 Billion in Share Sale to Lift Capital
(Bloomberg) — Yes Bank Ltd., the Indian lender that was rescued this year after being inundated with bad loans, plans to raise as much as 150 billion rupees ($2 billion) in a public offering to shore up capital.
The share offering will be from July 15 to 17, according to a stock exchange filing Thursday. The Mumbai-based bank had earlier planned to raise at least 80 billion rupees, people with knowledge of the matter said last month.
Indian banks are boosting balance sheets in anticipation of more soured debts as the coronavirus hammers businesses and leaves millions jobless. The Reserve Bank of India barred Yes Bank from paying some bondholders last month after its capital adequacy ratio fell below the minimum regulatory requirement.
Yes Bank will sell the shares to foreign and domestic institutions as well as retail investors, it had said earlier. State Bank of India, the company’s largest shareholder, has already committed 17.6 billion rupees.
Shares of Yes Bank climbed as much as 5.6% on Thursday morning in Mumbai.
The lender received a capital infusion of 100 billion rupees from eight local lenders led by SBI in March, as part of a bailout plan by the central bank.
-
Economy1 month agoOMIFCO IPO: Price, Dividends, Subscription Dates and Listing – Here’s Everything You Need to Know
-
Magazines1 month agoOER May 2026 Edition: The Digital Copy
-
News2 weeks agoINVESTIGATION: Why Nokia Could Matter More in the Quantum Age Than It Ever Did in Mobile
-
Investment4 weeks agoWhy Are Tech Stocks Rising Again – And Is It Too Late To Invest In Them?
-
News3 weeks agoINVESTIGATION: Is AI in a Bubble? Inside the Trillion-Dollar Question Reshaping Global Markets
-
Magazines1 month agoSignature Oman: May 2026 Edition
-
Economy3 weeks agoOMIFCO Successfully Completes Bookbuilding & Sets Final IPO Offer Price
-
Banking & Finance2 months agoOman Arab Bank marks successful listing of $400mn AT1 Bond on London Stock Exchange
