Private lender Yes Bank plans to raise USD 70 million in next three months

Private lender Yes Bank plans to raise USD 70 million in next three months

Yes Bank has said that they are planning to raise USD 70 million within the next three months. They are currently talking with a few investors for share placement.

Yes Bank managing director and CEO Rana Kapoor spoke about this new development: “We will adopt either the qualified institutional placement (QIP) or private placement route for raising this capital.”

This program would be part of their original plan to raise USD 150 million in capital this fiscal.

Kapoor added: “We are trying to negotiate a higher-than-market price from these investors.”

Rabobank holds a 19.29 per cent stake in the bank. Other investors in the bank include CVC, Chryscapital and AIF.