Yes Bank plans to raise $150-250 mln via equity

MUMBAI Wed Oct 21, 2009 2:01pm IST

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MUMBAI (Reuters) - Private sector lender Yes Bank plans to raise $150-250 million via equity by March 2010 to meet expansion targets, a senior official said on Wednesday.

"We are yet to decide on the mode of fund raising via equity but it would be most likely be QIP (qualified institutional placement) route," Jaideep Iyer, deputy chief financial officer, said in a conference call.

It is also looking at net interest margin of 3-3.2 percent in the next two quarters, Iyer said.

The net interest income is likely to grow over 30 percent in the December quarter, he said.

(Reporting by Tamajit Pain; Editing by Prem Udayabhanu)

(For more news on Reuters Money visit www.reutersmoney.in)

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