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Wednesday, January 22, 2020

Yes Bank shares settle over 15 per cent lower post board meeting outcome

Yes Bank Share Price Today: Yes Bank on Tuesday said that it is willing to favourably consider the offer of $500 million investment of Citax Holdings and Citax Investment Group.

By: Express Web Desk | New Delhi | Updated: December 11, 2019 4:45:16 pm
A logo of Yes Bank Ltd. sit on bank’s branch in Mumbai, India, on Tuesday, April 30, 2019. (Image source: Bloomberg)

Yes Bank Share Price Today: Shares of Yes Bank cracked as much as 19.49 per cent to Rs 40.70 per share on the BSE in the intraday trade on Wednesday, a day after the private sector lender said that it is willing to favourably consider the offer of $500 million investment of Citax Holdings and Citax Investment Group.

On the NSE, the scrip of the private sector touched an intraday low of Rs 40.75 on Wednesday, down 19.39 per cent.

Eventually, the scrip settled at Rs 42.80 on the BSE on Wednesday, down by Rs 7.75 or 15.33 per cent, while on NSE it ended at Rs 43.55, down Rs 7.00 or 13.85 per cent.

On Wednesday, nearly 4.40 crore shares of Yes Bank were traded on the BSE while on NSE, over 66.10 crore shares exchanged hands during the day’s trade.

“The Board is willing to favourably consider the offer of US$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),” Yes Bank said in an exchange filing after the market hours on Tuesday.

The binding offer of US$1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, the exchange filing said.

In November, the private sector lender had given the list of potential investors, including the two named above, who were willing to invest in the bank.

Also Read | Yes Bank to consider $500 million offer of Citax group; Braich’s offer under discussion

Constraints on capital had forced the Yes Bank to shrink its book in the September quarter. The bank has been going through a tumult for the last one year since the RBI forced the exit of its promoter and CEO Rana Kapoor in August 2018.

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