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CLR Snippets | Yes Bank Limited to increase foreign equity participation upto 60 percent

CLR SnippetsProposal of Yes Bank Limited to increase foreign equity participation upto 60 percent through a Qualified Institutional Placement (QIP) of its equity shares to eligible non-residents and/ or issue of Global Depository Receipts (GDRs) to eligible non-resident investors

The Cabinet Committee on Economic Affairs today gave its approval to the proposal of Yes Bank Limited to increase foreign equity participation upto 60 percent through a qualified Institutional Placement (QIP) of its equity shares to eligible non-residents and / or issue of Global Depository Receipts (GDRs) to eligible non-resident investors, as recommended by the Foreign Investment Promotion Board (FIPB).

The approval would result in foreign investment amounting to Rs.2,650 crore approximately being received in the country.

Tags: Cabinet Committee on Economic AffairsFIPBforeign direct investmentForeign Investment Promotion BoardGlobal depository receiptQIPQualified institutional placementYes Bank

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