The decision can help the bank to raise its Tier-1 core capital ratio of 6.3 per cent to around 10 per cent, the report said.
In March earlier this year, Yes Bank had announced that seven banks led by State Bank of India had invested Rs 10,000 crore, boosting its core capital. (Photo: AFP)
Yes Bank is reportedly considering to raise at least 80 billion rupees in a public offering of shares to boost its capital.
As per a Bloomberg report on Wednesday, the newly revived bank is likely to kick off the fundraising soon.
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The decision can help the bank to raise its Tier-1 core capital ratio of 6.3 per cent to around 10 per cent, the report said.
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“A share sale would follow Yes Bank’s regulatory application to fast-track its capital raising after the lender’s stock rebounded 73% since the Reserve Bank of India rescued it in March,” the report stated.
In March earlier this year, Yes Bank had announced that seven banks led by State Bank of India had invested Rs 10,000 crore, boosting its core capital. The rescued bank in its filing in the same month had said that it can issue instruments including shares or convertible bonds.
At the time of reporting, the bank had not issued no statement on the matter.
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