Yes Bank gets board approval to raise Rs 10,000 crore through issue of debt securities

The board of directors of Yes Bank on June 10 approved the bank's plan to raise Rs 10,000 crore through the issue of debt securities, according to a stock exchange notification.

The lender also received board approval to shift its registered office to Yes Bank House in Santacruz (E), Mumbai from Yes Bank Tower in Elphinstone (W) in the same city.

"In terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions, if any, the Board of Directors of the Bank in its meeting held on June 10, 2021 have, inter alia, considered and approved seeking shareholders’ approval for borrowing/raising funds in Indian/foreign currency up to an amount of Rs 10,000 crore by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN) etc. in terms of Section 42, 71 and other applicable provisions of the Companies Act, 2013 read with Companies (Prospectus and Allotment of Securities) Rules, 2014, SEBI (Issue and Listing of Debt Securities) Regulations, 2008, the SEBI Listing Regulations and other applicable laws, if any, subject to regulatory approvals, as may be required," Yes Bank told the stock exchanges.

The capital adequacy ratio of Yes Bank as per Basel III was 17.5 percent as on March 31. The common equity tier-I (CET-I) ratio stood at 11.2 percent at the end of March.

The bank reported a net loss of Rs 3,787.75 crore in the March quarter of FY21, as against a profit of Rs 2,629 crore a year ago. The year-ago profit had arisen out of the write-down of Yes
Bank's additional tier-I bonds.

Yes Bank reported fresh slippages worth Rs 11,800 crore during the March quarter, of which Rs 8,000 crore came from the moratorium book.