Yes Bank to Raise up to 
2,500 Crore via GDR or QIP Route
Bangalore: Private sector lender Yes Bank said it plans to raise around 
2,000-2,500 crore of equity capital in the later part of current financial year to support its future business growth.
"We plan to raise around $400 million to $500 million (around 2,000 crore-2,500 crore) of equity capital in the later part of current financial year," Yes Bank Chairman and Managing Director, Rana Kapoor, told reporters. He also said the capital may be raised through a Global Depository Receipts (GDR) or Qualified Institutional Placement (QIP) route.
"The instrument will depend on the overall economic environment both in domestic and international market," Kapoor added. The bank had raised around 830 crore of hybrid capital through various debt instruments in Q4 of the last financial year.
"The money raised in the last fiscal is enough to support our growth for next 12-18 months," he said. The private sector lender has a capital adequacy ratio of 17.9 percent in FY12 compared to 16.5 percent reported a year earlier.
Yes Bank yesterday, posted a 33.6 percent rise in its net profit to 271.8 crore in Q4 of last financial year on the back of higher core earnings. Net profit of the bank stood at 203.4 crore in the same period last year.
Its total income grew by 45.5 percent to 2,051.45 crore during the January-March quarter compared to 1,409.37 Crore reported in the corresponding period last year.
Source: PTI
2,000-2,500 crore of equity capital in the later part of current financial year to support its future business growth.
"We plan to raise around $400 million to $500 million (around 2,000 crore-2,500 crore) of equity capital in the later part of current financial year," Yes Bank Chairman and Managing Director, Rana Kapoor, told reporters. He also said the capital may be raised through a Global Depository Receipts (GDR) or Qualified Institutional Placement (QIP) route.
"The instrument will depend on the overall economic environment both in domestic and international market," Kapoor added. The bank had raised around 830 crore of hybrid capital through various debt instruments in Q4 of the last financial year.
"The money raised in the last fiscal is enough to support our growth for next 12-18 months," he said. The private sector lender has a capital adequacy ratio of 17.9 percent in FY12 compared to 16.5 percent reported a year earlier.
Yes Bank yesterday, posted a 33.6 percent rise in its net profit to 271.8 crore in Q4 of last financial year on the back of higher core earnings. Net profit of the bank stood at 203.4 crore in the same period last year.
Its total income grew by 45.5 percent to 2,051.45 crore during the January-March quarter compared to 1,409.37 Crore reported in the corresponding period last year.