The Cabinet Committee on Economic Affairs (CCEA), which reviews FDI proposals worth over Rs 1,200 crore, has approved Yes Bank's proposal to raise foreign holdings to 60 per cent.
Yes Bank plans to hike foreign equity participation up to 60 per cent through QIP of its equity shares or global depository receipts (GDRs) to eligible non-residents.
The case was referred to CCEA by Foreign Investment Promotion Board (FIPB) in April this year.
Yes Bank is also planning to raise USD 500 million and has already secured shareholders' nod for the same.
At 12:00 hours, shares of Yes Bank were trading at Rs 452.35 a piece, up 1.9 per cent from previous close on BSE.