Yes Bank board approves plan to raise Rs 10,000 crore via debt securities

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The types of debt securities to be issued include non-convertible debentures, bonds, medium-term note (MTN), among others, the bank said.

Yes Bank board approves plan to raise Rs 10,000 crore via debt securities
Yes Bank on Thursday received board approval for raising up to Rs 10,000 crore by issuing debt securities.
The board of directors in its meeting held on June 10, 2021, considered and approved seeking shareholders' approval for borrowing funds in Indian/foreign currency up to Rs 10,000 crore by issuing debt securities, Yes Bank said in a regulatory filing.
The private lender has also received the board's approval to shift its head office in Mumbai to Yes Bank House in Santacruz (East), from Elphinstone (W).
The types of debt securities to be issued include non-convertible debentures, bonds, medium-term note (MTN), among others, the bank said.
Yes Bank shares closed 3.03 per cent up at Rs 14.64 apiece on BSE.
On Monday, Yes Bank had said that it planned to raise funds in Indian or foreign currency by issuing debt securities and that it would be considered for approval at a meeting of the board of directors June 10.
The bank said it will raise funds in "Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, medium term note." Yes Bank stock traded 5.75 per cent up at Rs 14.52 apiece on BSE.
Meanwhile, on June 9, the CBI carried out searches at 14 locations in Delhi-NCR and three other cities after registering an FIR against Oyster Buildwell Private Ltd, Avantha group promoter Gautam Thapar and others for alleged diversion of over Rs 466 crore in Yes Bank during 2017-19, officials said. Thapar is already being probed in another case related to diversion of public money in Yes Bank allegedly involving the bank's former chief Rana Kapoor, they said.
In the present case, the CBI has also booked directors of Oyster Buildwell Pvt Ltd - Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan - as well as unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd. Oyster Buildwell Pvt Ltd (OBPL) is part of Avantha group with over 97 percent stake held by Avantha Realty and the remaining by Thapar and Vani agencies, the CBI alleged.

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