Yes Bank fundraising: Yes Bank board approves raising funds worth ₹16,000 crore by issuing equity, debt securities
Yes Bank has announced the outcome of the board meeting on its fundraising plans. The bank has approved raising of funds by the way of issue of eligible equity securities and debt securities.
Along with this, the private lender's board has also announced amendments to the Articles of Association pursuant to the terms of the share purchase agreement dated May executed by and amongst the lender, Sumitomo Mitsui Banking Corporation and State Bank of India . Japanese banking giant SBMC will be acquiring a 20 per cent stake in Yes Bank.
The private lender will raise funds by the issuance of equity securities along with debt securities. Yes Bank board has approved raising up to ₹ 7500 crore via securities and up to ₹ 8500 crore via debt. In total, Yes Bank will raise ₹ 16,000 crore combining the both.
"We wish to inform that the Board of Directors of the Bank at its meeting held today i.e., June 03, 2025 has inter alia, considered and approved the following:
(1) raising of funds by way of issuance of eligible equity securities through various permissible means, provided that aggregate amount to be raised by issuance of such securities shall not exceed ₹ 7,500 crore and shall not result in an aggregate dilution of more than 10% (including dilution on account of issuance of equity securities in terms of this item and conversion of any convertible debt securities approved by the Board), as an enabling resolution as per the requirements of applicable laws, which shall be subject to approval of the shareholders and other regulatory and/or statutory approvals, as applicable
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
15 minutes ago
- Time of India
Nine new DMDs at SBI, 28 CGMs promoted in annual exercise
State Bank of India (SBI), the country's biggest government asset by market value, has promoted nine chief general managers (CGMs) as deputy managing directors (DMDs) in an annual exercise, people familiar with the information said. As many as 28 people have been elevated to the CGM level, similar to the 27 promoted last year, Four out of nine DMDs have already been posted to their respective positions, while five others are waiting for the final order of the department where they will take charge. SBI has 24 DMDs, each handling remits ranging from corporate banking, markets and treasury, recovery, retail, compliance, finance, operations, etc. The names of the new DMDs have already been updated at the bank's website. Rajeev Kumar, who was CGM at the bank's international banking group (IBG) in SBI's Mumbai headquarters, has already taken charge as DMD internal audit at the bank's Hyderabad office. SBI Card CEO, Salila Pande, has also been promoted as DMD and will continue with her current responsibilities she assumed in April. Ramesh Srinivas Rao has taken charge as DMD commercial clients group I (CCG I) from Gulshan Malik, who retired on May 31. Satyendra Kumar Singh has taken charge of CCG II, which was headed by Amitava Chatterjee, who took over as J&K Bank CEO at the end of December 2024. Both CCG I and II services large and medium sized companies (except conglomerates), out of the bank's head office in Mumbai. Rajesh Kumar, who was heading the bank's Hyderabad circle, will take over as DMD, agriculture and SME in the bank's corporate headquarters in Mumbai from Surender Rana, who retires in July. Other CGMs promoted to DMD position are Arvind Kumar Singh, Chander Shekhar Sharma, Parminder Singh and Anindya Sunder Paul. They await portfolios and will take over based on retirements or transfers. The DMDs typically report to managing directors (MDs). SBI has four MDs, each handling corporate banking and subsidiaries, retail and operations, risk, compliance and stressed assets recovery and international banking, markets and technology. The MD portfolios are distributed according to the discretion of the SBI chairman. SBI is India's largest lender with Rs 66.79 lakh crore in total assets, much higher than Rs 39.10 lakh crore of total assets of HDFC Bank , its nearest rival, as of March 2025. With more than 22,500 branches and 63,580 ATMs across India, it has the widest network in the country. Economic Times WhatsApp channel )
New Indian Express
an hour ago
- New Indian Express
Actor Jeetendra sells Andheri plot for Rs 855 crore to NTT Global Data Centers
Veteran Bollywood actor Jeetendra and his family-owned firms -- Pantheon Buildcon Private Limited and Tusshar Infra Developers Private Limited -- have sold a land parcel in Andheri, Mumbai, for Rs 855 crore, according to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR). The transaction was registered in May 2025. The land parcel, along with the built-up area, was bought by NTT Global Data Centers & Cloud Infrastructure India Private Limited, formerly known as Netmagic IT Services Private Limited. NTT, a Japanese tech conglomerate, is India's largest data center provider and a prominent IT services company. It specializes in a range of services including public and private cloud solutions, hosting, data management, application development, threat monitoring, content delivery networks, and testing services and serves customers globally. According to property registration documents from the IGR, reviewed by Square Yards, the transaction comprised two contiguous land parcels spanning a total area of 9,664.68 sq. m. (~0.96 hectares or ~2.39 acres). The site currently houses Balaji IT Park, and includes three constructed buildings with a cumulative built-up area of 45,572.14 sq. m. (4,90,534 sq. ft.). The deal incurred a stamp duty of Rs. 8.69 crore and registration charges amounting to Rs. 30,000.
Mint
an hour ago
- Mint
Seeds of change: How Rallis India plans to double growth without spending big
Rallis India Ltd, a Tata Group company manufacturing fertilizers and insecticides, has been cruising along at a steady pace without much hustle, but a new chief is looking to overhaul the business hoping to accelerate its growth. Chief executive Gyanendra Shukla, who took charge of Rallis India in April last year, aims to double its revenue in 5 years, including through acquisitions, even as he acknowledging that the company hadn't met expectations. While Rallis India's business is profitable and stable, shareholders' expectations are different, Shukla said in an interview with Mint, explaining the company's renewed focus on growth after a few tepid years. 'They are comparing us against peers in the equity market and looking at returns and payouts. Frankly, we haven't met those expectations just yet. And that is why accelerating growth has become absolutely critical," said Shukla, who previously held leadership roles at US agrochemical company Monsanto. 'We have been sound financially, but what we have lacked is a little bit of aggression, courage, and risk-taking," he said. Tata Chemicals Ltd is the largest shareholder in Rallis India with a 55% share, while public investors own the remaining 45%. Rallis India's revenue inched up about 0.6% to ₹2,663 crore in 2024-25 from ₹2,648 crore in FY24, when revenue had declined 11%. Profit after tax fell 15% to ₹125 crore in FY25 from ₹148 crore in the previous year. Even so, Shukla is confident the company can achieve high double-digit revenue growth over the next five years without incurring large-scale investments. 'We believe our current capacity is more than sufficient for the next five years." Shukla added that while Rallis India's manufacturing capital expenditure will be incremental—there are no plans to, say, establish a ₹500-crore facility; 'that is completely off the table for now"—growth can be accelerated through inorganic opportunities. 'We are in active discussions with Japanese and global players to explore potential opportunities and collaborations. If something materialises, our first preference would be to utilise existing assets because that is the most efficient approach," Shukla said. Also read | What cooling oil prices mean for India's fertilizer companies Rallis India's growth strategy: From weakness to strength Shukla expects Rallis India's seeds, soil and plant health, and domestic crop protection businesses to be the company's key engines of growth—the seeds business is where the 'gains will come from", he said. However, of Rallis India's ₹430 crore revenue in the March quarter—slightly down from ₹436 crore in the year-ago fourth quarter—the seeds business contributed only ₹25 crore while the crop care business accounted for ₹405 crore, which includes ₹37 crore from the soil and plant health segment. Modern breeding techniques can significantly enhance seed quality without necessarily involving transgenic methods or introducing foreign genes, Shukla said. Even conventional crossbreeding involves gene transfer, but controversies over genetically modified (GM) crops arise when bacterial genes are used, he added. That said, Shukla believes there are dozens of other advanced tools in modern biotechnology that Rallis India is actively using, and 'that is where gains in the seeds business will come from". Also read | Privatization of fertilizer companies back on the menu, one small firm at a time On areas of improvement for the company, Shukla explained, 'There are still notable gaps in our herbicide portfolio, and we are addressing these through new product launches and potential collaborations. Everything does not need to be manufactured in-house." Rallis India said in its latest earnings call that herbicides, part of the crop protection business, had become the largest category in the non-core rabi crop (sown in winters) segment. However, the company admitted that it remained weak in this category. 'We are weak on cotton herbicide. We are weak on soyabean herbicide. We are weak on maize herbicide. So, all across categories, we are weak. So that portfolio, I mean that is about 30-35% of the crop protection market," Shukla told analysts during the call on 24 April. Among Rallis India's key growth strategies, according to Shukla, is to drive expansion through herbicides and fill critical portfolio gaps. This year, the company will introduce two new products, with a rice herbicide slated for next year, the CEO said, adding that some products might be phased out to make room for new ones. Also read | China's supply cut and global disturbances reduces India's fertilizer imports A bigger challenge: Global trade According to analysts at Nuvama Institutional Equities, Rallis India needs to improve its fungicide and insecticide portfolios as some of its products have not been well accepted by the market. The analysts, however, added that the company is actively working to improve product efficacy and better align its offerings with market needs. Rallis India, which earns about 80% of its revenue from the domestic market, chiefly competes with Dhanuka Agritech Ltd, PI Industries Ltd, UPL Ltd, BASF India Ltd, and Coromandel International Ltd in India. In overseas markets, its main competitors include Bharat Rasayan Ltd, Sharda Cropchem Ltd, Sumitomo Chemical India Ltd, and Meghmani Organics Ltd. The broader agrochemicals market that Rallis India operates in has been buffeted by some recent macroeconomic and geopolitical challenges. For one, following the US's trade war with China, there are concerns that Chinese suppliers may dump crop protection inventory that was meant for the US into other markets, potentially disrupting price stability in India. Also, the global crop protection market experienced a sharp decline in value terms in 2024, hurt by weak agrochemical and commodity prices, high input costs, and unfavourable weather conditions in Europe and the Asia-Pacific, according to AgbioInvestor, a Scotland-based consultancy in the agrochemical market. Also read | Tata Chemicals' Europe restructuring helps, but dull soda ash market a worry Nuvama said in a report dated 24 April that elevated channel inventory in domestic trade and patchy demand in international markets for Rallis India compromised near-term growth triggers for the company. The brokerage has a 'reduce' rating on Rallis India as it reckons the challenging business environment may restrict material improvement in return on equity from the stock. Kotak Institutional Equities, which has a 'sell' recommendation on Rallis India, flagged in a report dated 14 April that 'the (fertilizer and agricultural chemicals) industry environment remains difficult, with the tariff war further complicating an already uncertain outlook (for the industry)". Rallis India's management has clarified that only one of its major products, acephate, is subject to the reciprocal tariffs imposed by the US. Even so, domestic institutional investors (DIIs) have been gradually trimming their stake in the Rallis India stock, while foreign institutional investors (FIIs) have been steadily increasing their exposure to it. As per BSE shareholding data, DIIs held a 13.78% stake in Rallis India as of March, down from 14.78% in December 2022, while FIIs raised their holding to 11.41% from 7% in that period. While Nuvama has a price target of ₹182 per Rallis India share, Kotak has raised its target price from ₹210 to ₹230. On Thursday, Rallis India fell 1.23% to ₹318.00 per share on NSE, while the benchmark Nifty 50 inched up 0.53%.
