Yes Bank fundraising

Yes Bank on Tuesday said its board has approved raising of ₹16,000 crore through a mix of equity and debt to fund business growth. The board approved raising of funds by way of issuance of eligible equity securities through various permissible means, provided that the aggregate amount to be raised by issuance of such securities would not exceed ₹7,500 crore and would not result in an aggregate dilution of more than 10 per cent (including dilution on account of issuance of equity securities in terms of this item and conversion of any convertible debt securities approved by the board). The board also gave its nod to raising funds by way of issuance of eligible debt securities in Indian or foreign currency, provided that the aggregate amount to be raised by issuance of such securities would not exceed ₹8,500 crore and would not result in an aggregate dilution of more than 10 per cent, it said. Source - Mint