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Yes
Bank Ltd today announced having completed infusion of
equity capital of Rs120 crore ($26.5 million) comprising
private placement of 10 million equity shares to Swiss
Reinsurance Company, Zurich, Switzerland (Swiss Re). The
transaction was completed following necessary approvals
from the Reserve Bank of India and Yes Bank''s shareholders.
The Tier I placement of equity shares of face value of
Rs10 each at a premium of Rs110 per share constitutes
3.57 per cent of the expanded share capital of Yes Bank.
Post
this transaction, the paid-up share capital of the bank
has increased to Rs2.8 billion. The total capital base,
including Tier I & Tier II of the Bank has now surpassed
the INR 1000 crore mark.
"We
are extremely pleased with this landmark transaction with
a marquee investor of Swiss Re''s pedigree, which is consistent
across our overall high quality Yes Bank investor base,"
said Rana Kapoor, founder-managing director and CEO, Yes
Bank.
"We
continue to strengthen our capital base to scale our execution
capabilities in our quest to become the World''s Best Quality
Bank in India," added Kapoor.
In
July 2005, the Bank successfully concluded an IPO of Rs315
crore (approximately $70 million) that was oversubscribed
30 times. Subsequently, in November 2006, the bank successfully
raised Rs180 crore ($40 million) of subordinated Tier
II debt through private placement issue of unsecured,
redeemable, non-convertible, subordinated bonds.
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