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India's Yes Bank selling shares to raise up to $500 mln - sources
May 29, 2014 / 2:01 PM / 3 years ago

India's Yes Bank selling shares to raise up to $500 mln - sources

May 29 (Reuters) - Indian lender Yes Bank Ltd on Thursday launched a share sale to raise as much as $500 million to bolster its balance sheet, two people with direct knowledge of the deal said.

The bank is selling shares in an indicative price band of about 530 rupees ($9.00) to 550 rupees each, said the sources. The sources declined to be named as the details of the transaction are not public yet.

Yes Bank stock closed down 2.5 percent on Thursday at 548.15 rupees.

The bank’s Chief Financial Officer Rajat Monga did not respond to calls for comment.

$1 = 58.8750 Indian Rupees Reporting by Himank Sharma and Abhishek Vishnoi; addition reporting by Devidutta Tripathy; editing by Keiron Henderson

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