Private lender Yes Bank today said it will raise about Rs 330 crore ($50 million) by issuing a

7-year term green infrastructure bond to FMO, the Dutch Development Bank, on a private placement basis.

Mumbai: The Securities and Exchange Board of India (Sebi) is examining whether its listing norms were breached in Yes Bank’s aborted $1 billion qualified institutional placement (QIP), said five people familiar with the matter, including officials of the capital markets regulator.

Sebi is also looking into the possibility of entities trading the stock on the basis of insider information, the people said on condition of anonymity.

YES Bank has dipped nearly 6% to Rs 1,202 in intra-day trade, extending its over 10% decline in the past three trading sessions on the BSE, after the private sector lender said it has deferred its proposed qualified institutional placement (QIP) of shares.

At 10:56 am, the stock was down 4.5% at Rs 1,219, falling 15.4% in past four trading sessions from Rs 1,441 on September 9, wiping out nearly Rs 9,500 crore in investor wealth. The S&P BSE Sensex has declined 2% during the same period.

The shares of Yes Bank plunged over 6% on Friday even after the company put off its plans to raise nearly $1 billion through QIP.

YES Bank had launched a QIP issue to raise $1 billion but deferred it soon after as its shares tanked over 5% on Thursday. The Bank said that a misintepretation of the new QIP guidelines led to a massive sell-off of its shares.

YES Bank flagged off a Qualified Institutional Placement issue of new shares, to raise up to $1 billion (Rs 6,600 crore), with the aim of supporting its growth for the next three years.

The price band for the shares, to be placed with institutional investors, is Rs 1,350-1,410 each. The face value of each share is Rs 10.

Mumbai: Private sector lender Yes Bank Ltd is gearing up to make a debut in the offshore bond market with a five-year dollar bond. The bank is looking to raise $300-500 million before March 2017 to avail cheaper funding for its offshore lending branch at GIFT City in Gandhinagar, Gujarat, said two people from the bank.

The offshore branch is meant to function as a foreign branch of the domestic bank and lend in foreign currency. GIFT City is India’s first international finance centre.

Private sector lender YES Bank became the latest entrant in the credit card space on Tuesday. Going ahead, the lender has planned an aggressive push as it aims to capture a market share of 17-18 per cent in the next five years.

“Several foreign banks have not been aggressive in the credit card space and that will also help us to increase our market share. In the next five years we plan to issue 4-5 million credit cards and capture a market share of 17-18 per cent. We want to be one of the top three players in the next five years,” said Pralay Mondal, senior group president, YES Bank.

YES Bank, Axis Bank, Asian Paints, LIC Housing Finance and Dewan Housing Finance Corporation are among 30 stocks from the BSE500 and Nifty500 indices, which hit their 52-week highs on Friday.

YES Bank ended 3% higher at Rs 1,291 on the BSE on reports that the stock's weightage on the MSCI Global Standard Indexes was raised to 1.7% from 0.46% earlier. The increase could translate into additional buying of $224 million.

BENGALURU: Private sector lender Yes Bank has rolled out adoption benefits for its workforce, in an effort to align organisational objectives with the needs of employees.

Realising that employees need to spend time building an emotional connect with new additions to the family and recognising that many are choosing to adopt children, the organisation has introduced the benefits, which are applicable 1st August onwards.

Besides superior asset quality, growth potential of their retail book was a factor that led to the re-rating of some of the smaller sized private sector banks in the last one year. A closer look at the retail businesses of Yes Bank and IndusInd Bank reveals that core consumer-driven segments still account for a relatively small portion of their respective retail books.

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