The board will evaluate an enabling resolution for raising capital through eligible equity securities via permissible routes, including private placements, preferential issues, or a combination of methods, in accordance with applicable laws.
It will also consider an enabling resolution for borrowings and fundraising through eligible debt securities and other convertible or non-convertible instruments through various permissible modes.
The private-sector lender said it may evaluate fundraising requirements in the future and plans to seek the necessary shareholder approvals through special resolutions to be included in the notice of its forthcoming annual general meeting.
Earlier, on June 6, the bank said it had received an order from the Maharashtra Goods and Services Tax (GST) department’s appellate authority confirming a tax demand and penalty totalling ₹63.27 crore for the period from July 2017 to June 2018.
The order was passed by the Commissioner (Appeals) under Section 107(11) of the Central Goods and Services Tax (CGST) Act and was received by the bank on June 5.
In a separate development on June 15, YES Bank and Northern Arc Capital entered into a strategic partnership to expand access to credit, scale digital lending and provide debt investment opportunities to customers.
Under the partnership, Northern Arc will leverage its network of 368 originator partners to facilitate credit deployment for YES Bank through its placements business.
Shares of YES Bank closed at ₹24.52 on the NSE on June 23, down 1.76%, or ₹0.44, from the previous close.
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