Yes Bank board approves raising funds up to Rs 10,000 cr

Private sector lender Yes Bank on Tuesday said that its board has approved raising of funds for an amount up to Rs 10,000 crore.

"The Board of Directors of the Bank ... have considered and approved raising of funds by issue of equity shares / depository receipts / convertible bonds / debentures / warrants / any other equity linked securities, through permissible modes, subject to necessary approvals from shareholders/ regulators, as applicable for amount up to INR 10,000 Crores," Yes Bank stated in a regulatory filing.

Pursuant to this the bank will be seeking the approval from its shareholders which in effect would result into seeking an extension on the current shareholder approval which is set to expire on February 28, 2022, the lender added.

Shares of Yes Bank ended 2.11 per cent up at Rs 13.04 apiece on BSE today.

Back in June, the lender had received board approval for raising up to Rs 10,000 crore by issuing debt securities.

Yes Bank had reported a profit after tax of Rs 225 crore for the quarter ended September, an increase of 74.3 percent over the year-ago period, mainly on the back of lower provisioning requirements. The bank's profit after tax stood at Rs 129 crore in the corresponding quarter of the previous fiscal.

Recently, Yes Bank had announced its collaboration with Amazon Pay and Amazon Web Services (AWS), to offer customers an instant real-time payment system via the UPI transaction facility.