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YES Bank to list in US bourses

YES Bank will soon become the third Indian bank to have its shares listed on American stock exchanges. The bank has received a go-ahead from its board to raise up to $1 billion by way of American Depository Receipts or through a Qualified Institutional Placement. The permission follows a proposal to hike investment by foreign investors to 74% of the bank’s paid-up share capital from the existing limit of 49%. At the current market price, the market capitalization of the bank stands at Rs 35,566 crore. The only two other Indian banks to be listed in the US are ICICI Bank and HDFC Bank.

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