Mumbai, August 11, 2016: This is with reference to a story on YES Bank’s capital raising plans that was published by a leading financial newspaper today, August 11, 2016. We wish to clarify and confirm as follows:
- At the AGM held on June 7, 2016, the shareholders of the Bank have approved raising of equity capital aggregating upto USD 1 Billion through issue of new shares by way of a QIP and or ADR / GDR. The shareholders approval is valid till June 2017. As per this approved resolution, Rights Issue is not contemplated.
- The Bank’s equity capital raising plan remains UNCHANGED in accordance with the Press Release dated June 7, 2016 (Link : https://www.yesbank.in/media/press-releases/fy-2016-17/12th-yes-bank-agm-june-7-2016-shareholders-fully-support-all-resolutions-proposed-by-the-board-of-directors-of-yes-bank1.html )
- We further clarify that no merchant bankers have been appointed by the Bank so far, for this future capital raising event
About YES BANK
YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Finest Quality Bank of the World in India by 2020”.
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