According to the notice by the lender, the board will consider and approve, seek shareholders’ approval for borrowing/raising funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTC).
Following the announcement, shares of Yes Bank jumped as much as 6 per cent to Rs 14.60 on Monday. BSE Sensex was trading up by 120 points or 0.23 per cent at 52,220 at the time of writing this copy. The counter had settled at Rs 13.73 on Friday.
The lender had reported a net loss of Rs 3,787.75 crore for the quarter ended March as against a net loss of Rs 3,668.3 crore in the year-ago quarter due to a rise in provisions.
Beleaguered Yes Bank has eroded a fifth of investors’ wealth in 2020 and is trading at half the prices compared to a year ago.
