INDIA: Yes Bank Limited to increase India foreign equity limit to 60% for eligible non-residents

Friday June 28 2013

The Cabinet Committee on Economic Affairs (CCEA) has today approved a proposal of Yes Bank Limited to increase India foreign equity participation to 60% through a Qualified Institutional Placement (QIP) of its equity shares to eligible non-residents. Yes Bank has also been given approval to issue Global Depository Receipts (GDRs) to eligible non-resident investors, as recommended by the Foreign Investment Promotion Board (FIPB).

Please click on the above link for the PIB press release.