Yes Bank board gives nod to raising Rs 16,000 crore via mix of equity, debt

YES Bank's board has approved a plan to raise up to Rs 16,000 crore through a combination of equity and debt instruments. The private lender intends to raise Rs 7,500 crore via equity and Rs 8,500 crore through eligible debt securities, in Indian or foreign currency, across multiple tranches. This aggressive fundraising strategy follows the announcement that SMBC would acquire a 20% stake from existing shareholders, including State Bank of India and other Indian lenders involved in YES Bank's 2020 restructuring plan. The capital infusion aims to bolster the bank's financial strength, improve its credit rating, and enhance its brand reputation.