Yes Bank to Plan $1 Billion Share Sale in Public Offering

Yes Bank Ltd. is planning to raise at least 80 billion rupees ($1 billion) in a public offering of shares to boost its capital, according to people familiar with the matter.

The bank, which counts two of India’s largest lenders State Bank of India and HDFC Ltd. as its investors, will kick off the fundraising soon, the people said. That could help Yes Bank raise its Tier-1 core capital ratio to around 10%, from 6.3% as of end-March, said the people, who asked not to be identified as the information is private.