India's Yes Bank to raise up to $1.7 billion via equity, debt issue

India’s Yes Bank will raise up to 160 billion rupees ($1.69 billion) via a mix of equity and debt issue, the lender said on Monday.

The bank’s board approved an equity issuance of up to 75 billion rupees and a debt issuance of up to 85 billion rupees.

It did not disclose the fundraising instruments.

Yes Bank said the fundraising would not result in more than 10% dilution of existing shareholders’ stake.

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The lender’s capital adequacy ratio stood at 15.3% at the end of March, compared with 15.6% a year earlier. The regulatory minimum is 9%.