Yes Bank Share Price Rises as Board Approves ₹16,000 Crore Fundraising Plan

Market Performance

Yes Bank's share price gained nearly 2% in early trade on Wednesday after the private lender approved a major fundraising plan.

• The stock rose 1.87% to ₹21.24 on the BSE.
• Over the past month, Yes Bank shares have surged 18%.
• Over the last three months, the stock has increased by 29%.
• Year-to-date (YTD), it has gained 7%.

Main News: Board Approves ₹16,000 Crore Fundraising

Yes Bank will raise ₹16,000 Crore via equity and debt after receiving board approval for business growth initiatives.

Key Fundraising Details

• Equity Issuance: Up to ₹7,500 Crore (max dilution capped at 10%).
• Debt Issuance: Up to ₹8,500 Crore in Indian or foreign currency.

The move aligns with the bank's strategy to strengthen its financial position and expand operations.

Corporate Updates & Shareholder Rights

• The board also approved changes to its Articles of Association, as per agreements with Sumitomo Mitsui Banking Corporation and the State Bank of India.
• These changes require approval from both the Reserve Bank of India (RBI) and the shareholders.
• SMBC and SBI will have special rights until their stakes fall below 10% and 5%, respectively.

Yes Bank Block Deal: Carlyle Sells 2.6% Stake

• Carlyle Group sold 82 Crore shares (2.6% stake) for ₹1,775 Crore.
• The shares were sold at ₹21.61 to ₹ 21.68 per share.
• Following the sale, Carlyle's stake in Yes Bank was reduced from 6.84% to 4.22%.

Yes Bank Share Price Trends

At 9:20 AM, Yes Bank shares were trading 0.96% higher at ₹21.05 on the BSE.

Summary

• Yes Bank approves ₹16,000 Crore fundraising via equity and debt.
• Carlyle sells a 2.6% stake for ₹1,775 Crore.
• Stock gains nearly 2%, continuing its strong monthly rally.