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.
-
Artificial Intelligence1 month agoTop 5 Interesting Things AI Did This Month – September 2026 Edition
-
Fashion4 weeks agoLuxury Watches That Could Appreciate Over the Next Decade [2026 Auction Buyer Guide]
-
Economy3 weeks agoOER Magazine September Edition 2026
-
Banking & Finance2 months agoThe GCC’s 10 Richest Billionaires: Inside US$253.5 Billion of Wealth
-
Banking & Finance1 month agoINVESTIGATION: What If You Bought Apple Stock Every Time You Bought an iPhone?
-
Alamaliktistaad Magazines2 weeks agoAlam Al-Iktisaad Magazine September 2026 Edition
-
News2 months agoOPEC+ Holds Output Steady for October as Focus Shifts to 2027 Quotas
-
Aviation2 months agoWi-Fi at 35,000 Feet: The Real Economics of Installing Starlink on an Airline
