Photo: BloombergMumbai: Yes Bank Ltd will raise up to $1 billion by selling new shares to institutional investors, it said in a stock exchange statement on Wednesday. On Wednesday, shares of Yes Bank fell 2.46% to Rs.1,405.40 on BSE. At the lower end of the price band, the fresh issue will lead to a 11.7% dilution in Yes Bank’s equity base. The Yes Bank fund raising will be the biggest QIP so far in 2016. Yes Bank is not the only Indian bank raising funds.

Source: Mint September 07, 2016 16:30 UTC