ManagementYes Bank plans to raise $150-200 mn via QIP
Yes Bank plans to raise $150-200 million through private placement of shares this fiscal, a senior bank official said.
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"We plan to raise $150-200 million through a QIP (Qualified Institutional Placement) by end-March 2010," Yes Bank"s President-Financial Markets and Chief Financial Officer Rajat Monga told PTI here today.
The bank is also mulling raising Rs 75-80 crore through a perpetual instruments--a combination of equity and debt-- issuance this fiscal, Monga said.
"We aim to have a total capital in excess of Rs 5,000 crore by beginning of next fiscal (FY11). This will enable us to do more business with both existing and new customers," he said.
On new businesses, Monga said the bank was looking at opportunities in electronic broking, alternate asset management and mutual funds.
According to him, the bank is working towards starting two new businesses this calendar year.