Shares of YES Bank advanced nearly 6 per cent in Wednesday's session after the lender said its board of directors will meet on Friday to consider fundraising through issue of fresh equity.The scrip was trading 5.84 per cent up at Rs 67.10 at around 9.20 am (IST), while the benchmark BSE Sensex was up 225 points, or 0.55 per cent, up at 41,045 at around the same time.In a regulatory filing, YES Bank said that a meeting of the board of directors of the company is scheduled on November 29 to consider and approve raising of funds by issue of equity/equity-linked securities through permissible modes, subject to necessary shareholders/regulatory approvals, as applicable.The lender has earlier indicated that it intends to raise up to $1.2 billion by December.In an earlier filing, YES Bank had said that the bank intends to convene a meeting of its board of directors by end of this month to finalise its capital raise.
It has already raised $273 million via the route of QIP in August and announced the binding offer from a global investor of $1.2 billion.The private sector bank recently posted a loss of Rs 600.08 crore for the quarter ended September 30 due to a one-off DTA adjustment of Rs 709 crore on account of change in corporate tax rate regime.
Excluding this one-time hit, adjusted profit was Rs 109 crore.
YES Bank had posted a net profit of Rs 964.70 crore in the corresponding quarter last year