Mumbai: Yes Bank on Tuesday said that its Capital Raising Committee of the Board of Directors has approved raising funds by way of a further public offering. The committee took the decision at its two-hour long meeting on Tuesday. Also Read - Have You Faced ATM Transaction Failure Due to Insufficient Balance? Here’s What You Need to do

“The Capital Raising Committee of the Board of Directors of the Bank (‘CRC”‘), at its meeting held earlier today i.e., July 7, 2020, has approved raising funds by way of a further public offering,” the bank said in a regulatory filing. Also Read - Yes Bank Case: ED Attaches Founder Rana Kapoor’s London Flat Worth Rs 127 Crore

It further said that post closure of the requisite formalities with the Registrar of Companies, Maharashtra at Mumbai, the details in respect of the offer will be disseminated in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Also Read - RS Passes Banking Amendment Bill 2020, Co-op Banks to Function Under RBI's Supervision Now | Key Points

The bank’s CRC will again meet on or after July 10 to consider and approve, amongst other things, the price band and discount, if any, as permitted under the provisions of the SEBI ICDR Regulations.