Private sector lender YES Bank is holding a board meeting today to consider raising funds. The stock has gained about 7.5 percent after the company's announcement of holding the board meeting to consider fundraising.
The board will discuss raising funds by issue of equity shares or depository receipts or convertible bonds or debentures or warrants or any other equity-linked securities, the company had said earlier in the week.
In December, the lender had said that it is favourably considering Citax Holdings and Citax Investment Group's $500 million offer. The board is expected to take a final decision regarding allotment to Citax Holdings and Citax Investment Group today.
The bank has also approached various European entities. The $1.2 billion binding offer of Erwin Singh Braich/SPGP Holdings continues to be under the board's consideration.