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The private sector lender YES Bank is planning to raise $1 billion from international market.
YES Bank becomes the first Indian bank that has received government’s approval for a fully fungible composite foreign investment limit of 74 percent.
The Board of the bank has provided its approval to raise as additional $1 billion of Equity Capital following the $500 million raised in May 2014.
Rana Kapoor, YES Bank founder and Chief Executive Officer has said that “We are quite hopeful that in the $1 billion (being raised), at least 75 percent to 80 percent of the funds will be from offshore.”
