India’s Yes Bank Ltd. said it plans to raise as much as 150 billion rupees ($2 billion) in a public offering to shore up capital.
The follow-on share offering will open July 15 and close July 17, according to a stock exchange filing Thursday. The Mumbai-based bank earlier planned to raise at least 80 billion rupees, people with knowledge of the matter said last month.
The funds will bolster the bank’s capital adequacy ratio, which is below the minimum regulatory requirement.
In March, shares of India’s fourth-largest private lender Yes Bank have plunged more than 70 percent after the central bank seized control and imposed withdrawal limits.