August 30, 2019
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India International Exchange IFSC Limited 101 First Floor, Hiranandani Signature Tower, GIFT City IFSC - 382355, Gujarat, India |
The Singapore Exchange Securities Trading Limited 2, Shenton Way #19-00 SGX Centre 1, Singapore 068804
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The London Stock Exchange 10, Patemoster Square, London, EC4M 7LS
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Dear Sirs,
Sub.: Outcome of the Board Meeting - Disclosure under Indian Listing Regulations
We wish to inform you that pursuant to the Bank having utilised the limit available under the previously approved resolution by the Shareholders in its meeting held on June 12, 2019 and keeping in mind the capital requirements, the Board of Directors of the Bank in its meeting held on August 30, 2019 has approved the following:
1. in order to raise growth capital for the Bank, approved increase in Authorised Share Capital of the Bank from Rs. 800,00,00,000 (Rupees Eight Hundred Crore only) divided into 3,00,00,00,000 equity shares of Rs. 2/- each aggregating to Rs. 600,00,00,000/- (Rupees Six Hundred Crore only) and 2,00,00,000 preference shares of Rs. 100/- each aggregating to Rs. 200,00,00,000 (Rupees Two Hundred Crore only) to Rs. 11,00,00,00,000 (Rupees One Thousand One Hundred Crore only) divided into 450,00,00,000 equity shares of Rs. 2/- each aggregating to Rs. 900,00,00,000/- (Rupees Nine Hundred Crore only) and 2,00,00,000 preference shares of Rs. 100/- each aggregating to Rs. 200,00,00,000/- (Rupees Two Hundred Crore only) and consequential amendments to the existing capital clause in the Memorandum of Association of the Bank, subject to the approval of Reserve Bank of India and Shareholders;
The Bank would proceed with seeking approval from Reserve Bank of India for amendment in Memorandum of Association of the Bank for increase in the Authorised Share Capital.
2. delegated the powers with respect to raising of the capital to the Capital Raising Committee of the Board, with respect to the method and quantum of fund raising including preferential allotment route subject to shareholders' approval and subject to the applicable laws; and
3. authorized MD&CEO to negotiate term sheets with prospective private investors.
Kindly take note of the above.
The announcements made by the Bank can also be accessed at its website www.yesbank.in
Thanking you,
Yours faithfully,
For YES BANK LIMITED
Shivanand R. Shettigar
Group Company Secretary
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