Mumbai: Private sector lender Yes Bank said it plans to raise up to $500 million (about Rs 2,000 crore) during the current fiscal to fund business growth.
The board has approved to raise funds by way of issuance of equity capital of up to USD 500 million in one or more tranches, Yes Bank said in a statement.
The issuance may be by way of Qualified Institutional Placement (QIP) or any other international offering like Global Depository Receipts, American Depository Receipts or by way of any other appropriate mode as decided by the bank, it said.
During 2010-11, the bank raised Rs. 1,171.4 crore from Tier-I and Tier-II bonds.
Meanwhile, the bank posted a 45 percent jump in net profit at Rs. 203.4 crore for the fourth quarter ended March 31, 2011.
The board has approved to raise funds by way of issuance of equity capital of up to USD 500 million in one or more tranches, Yes Bank said in a statement.
The issuance may be by way of Qualified Institutional Placement (QIP) or any other international offering like Global Depository Receipts, American Depository Receipts or by way of any other appropriate mode as decided by the bank, it said.
During 2010-11, the bank raised Rs. 1,171.4 crore from Tier-I and Tier-II bonds.
Meanwhile, the bank posted a 45 percent jump in net profit at Rs. 203.4 crore for the fourth quarter ended March 31, 2011.
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