Yes Bank to seek shareholder nod for Rs 8,900-cr fundraise today | The Financial Express

Yes Bank to seek shareholder nod for Rs 8,900-cr fundraise today

On July 29, the board of directors of Yes Bank had approved the fundraising exercise, along with a proposal to increase its authorised share capital to Rs 8,200 crore from Rs 6,200 crore.

Yes Bank to seek shareholder nod for Rs 8,900-cr fundraise today
The EGM will have on the agenda seeking of shareholders' nod for the increase in the authorised share capital and the appointment of Prashant Kumar as interim MD & CEO, among others.

Yes Bank is scheduled to hold an extraordinary general meeting (EGM) on Wednesday to seek the approval of shareholders for a proposal to raise Rs 8,900 crore from private equity investors Carlyle Group and Advent International.

On July 29, the board of directors of Yes Bank had approved the fundraising exercise, along with a proposal to increase its authorised share capital to Rs 8,200 crore from Rs 6,200 crore.

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The EGM will also have on the agenda seeking of shareholders’ nod for the increase in the authorised share capital and the appointment of Prashant Kumar as interim MD & CEO, among others.

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First published on: 24-08-2022 at 01:50 IST