Yes Bank shares
tank 8% after QIP
Yes Bank shares fell close to 8% on Friday after its qualified institutional placement, through which the lender was planning to raise ₹2,000 crore. The QIP was fully subscribed. On Thursday, post market hours, the lender had set the QIP floor price at ₹87.9 apiece. The shares closed at 82.10. This round of equity capital raising will lead to 10% dilution. Motilal Oswal, JM Financial, CLSA, among others, were the investment banks that handled the QIP.