Small BusinessYes Bank raises Rs 1,140 cr via share sale to boost biz
Private sector lender Yes Bank today said it raised $250 million (about Rs 1,140 crore) by private placement of shares to fund its expansion plans, which include opening up to 250 branches next year.
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The bank has raised Rs 1,140 crore with a floor price of Rs 269.46 per share, Yes Bank said in a filing to the Bombay Stock Exchange.
The funds raised would be used for opening 135 to 250 new branches by next 12-15 months, Yes Bank MD and CEO Rana Kapoor said.
The bank would also use the raised funds in hiring human resource, Kapoor added.
Yesterday, the bank had reported a growth of 19 per cent in its net profit at Rs 125.9 crore for the third quarter ended December 31, 2009.
Shares of Yes Bank were trading at Rs 263.95 on the BSE, down 3.19 per cent from its previous close.