Private sector bank Yes Bank Limited has inform the media that it plans to raise $500 Mn (Rs.2000 Cr) by way of issuance of equity this fiscal in one or more tranches. The bank may raise this money through QIP or ADR/GDR, last year they had raised $225 Mn through QIP by diluting 11.5% stake. The bank need this money to fund business growth.
Earlier the bank posted a 45.24% increase in profit for the quarter ended in Mar 2011 and posted a Rs 203.16 crore profit. Quarterly profit crossed Rs 200 crore for the first time in the bank’s history.
Share’s Data :-
BSE Code : 532187
Mkt. Cap: Rs 11,473.39 Crores
Yes Bank Ltd. share’s CMP is Rs 330.55 on 20th Apr 2011.
Recently, Canara Bank has raised Rs.1993.20 Cr through QIP by issuing 33 Mn equity shares at Rs.604 per share to increase its capital base and expand its branch network. Three years ago, Bank of India had raised $340 Mn.
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