Published On: Thu, Jun 10th, 2021

Yes Bank board okays raising up to Rs 10K cr via debt securities

Mumbai: The Board of Yes Bank on Thursday approved raising up to Rs 10,000 crore through debt securities.

The bank had reported a standalone net loss of Rs 3,787.75 crore for the January-March quarter

The instruments for raising the fund would include non-convertible debentures (NCD), bonds, Medium Term Note (MTN) among others, the bank said a in a regulatory filing.

“The Board of Directors of the Bank in its meeting held on June 10, 2021, have, inter alia, considered and approved seeking shareholders’ approval for borrowing/raising funds in Indian/foreign currency up to an amount of Rs 10,000 crore by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN) etc,” it said.

Shares of the bank on Thursday closed at Rs 14.64 on the BSE, higher by 3.03 per cent from its previous close.

The bank had reported a standalone net loss of Rs 3,787.75 crore for the January-March quarter.

Its gross NPA was 15.41 per cent during the fourth quarter of last fiscal, down from 16.80 per cent reported in the same quarter in FY20.

The total income of the bank during the fourth quarter of FY21 stood at Rs 4,805.30 crore.

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