The bank said in the release that at the EGM, it will seek shareholders' approval to raise its authorised share capital to Rs 1,100 crore.
Yes Bank will hold its Extraordinary General Meeting (EGM) at 11 am on February 7.
According to a release, the bank stated it will seek shareholders' approval to raise its authorised share capital to Rs 1,100 crore at the EGM.
The lender's board, on January 10, approved a plan to raise fresh capital of Rs 10,000 crore via a mix of debt and equity. It also turned down Canadian industrialist Erwin Singh Braich's $1.2 billion investment bid. Meanwhile, the board announced that it would further consider the $500 million offer from Citax Holdings and Citax Investment Group at its next meeting.
In a separate statement last week, Yes Bank informed the exchanges that its Independent Director Uttam Prakash Agarwal submitted his resignation after having expressed his concerns over the bank's ongoing fundraising exercise.