Yes Bank has kick-started the process for the second tranche of capital raising and is looking to raise Rs 5,000 crore, sources told CNBC-TV18.
The bank may look at various options including QIP, rights issue, and preference issue.
According to sources, the private lender has appointed six merchant bankers for its proposed capital raising. These are Axis Capital, Kotak Investment Banking, SBI CAPS, Bank of America, Citi and HSBC Capital Market.
The bank has approvals in place to raise up to Rs 15,000 crore, which will take care of the bank’s capital requirement for three years.
Yes Bank’s response to CNBC-TV18 query is awaited.
News Source:- moneycontrol