YES Bank plans to raise funds through a follow-on public offer. The proposal was cleared by the Capital Raising Committee of the bank's board of directors on Tuesday.

The committee will meet again on July 10 to approve the price band and discount, amongst other issues, the lender said in a regulatory filing.

The bank is looking to raise about Rs 10,000 crore to Rs 15,000 crore of capital. It, however, did not specify the amount it will raise through the FPO.

The offer could be launched as early as next week.