Industry

Yes Bank shares plunge 15% on capital infusion concerns

A security guard stands outside a Yes Bank branch at its headquarters in Mumbai. File

A security guard stands outside a Yes Bank branch at its headquarters in Mumbai. File   | Photo Credit: Reuters

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The shares on Tuesday closed with over 10% loss amid reports the bank was likely to reject the offer of the proposed capital infusion.

Shares of Yes Bank on Wednesday tanked nearly 15% in the morning trade following uncertainty over its $2 billion fund raising plan.

On the BSE, the scrip after opening on a negative note further slumped 14.83% to ₹43.05.

On the NSE, the shares fell 14.83% to ₹43.05.

 

The shares on Tuesday closed with over 10% loss amid 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 $2 billion.

“The board is willing to favourably consider the offer of $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 $1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added.

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Printable version | Jan 22, 2020 11:12:10 PM | https://www.thehindu.com/business/Industry/yes-bank-shares-plunge-15-on-capital-infusion-concerns/article30275043.ece

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