Home Business Yes Bank shares plunge nearly 10 per cent amid capital infusion

Yes Bank shares plunge nearly 10 per cent amid capital infusion


Yes Bank shares plunge
Image Source : PTI (FILE)

Yes Bank shares plunged 10 per cent

Shares of Yes Bank on Tuesday fell over 10 per cent amid reports about difficulty being faced by the lender over a USD 2-billion fundraising plan. The stock dived 10.05 per cent to end at Rs 50.55 on the BSE. During the day, it plunged 12.27 per cent to Rs 50.55. On the National Stock Exchange (NSE), the company’s shares tumbled 10.4 per cent to close at Rs 50.40 apiece. During the day, the stock plummeted 13.68 per cent on the NSE.

In terms of the equity volume, 2.29 crore shares of the company were traded on the BSE and over 34.5 crore shares changed hands on the NSE during the day.

According to reports, the bank was likely to reject the offer of the proposed capital infusion.

However, the lender after the market hours said it shall continue to evaluate other potential investors to raise capital up to USD 2 billion.

“The board is willing to favourably consider the offer of USD 500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting, subject to requisite regulatory approval(s),” it said in a regulatory filling.

The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added.

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