Yes Bank shares rise nearly 5 per cent on fundraising plan

The stock of the private sector lender rose by 4.77 per cent to Rs 47.25 apiece on the BSE and to Rs 47.20 on NSE.

By: Express Web Desk
New Delhi | January 8, 2020 11:28 AM IST

2 min read

Pedestrians walk past a Yes Bank Ltd. branch in Mumbai, India, on Tuesday, April 30, 2019. (Image source: Bloomberg)

Shares of Yes Bank jumped as much as 4.77 per cent each on the BSE and National Stock Exchange (NSE) in the morning trade on Wednesday after the private bank announced its board will be meeting on Friday to consider proposals for fundraising.

The stock of the private sector lender rose by 4.77 per cent to Rs 47.25 apiece on the BSE and to Rs 47.20 on NSE. However, it later pared some of its morning gains and was trading at Rs 45.60, up Rs 0.50 or 1.11 per cent on the BSE and Rs 45.55 per share, up Rs 0.50 or 1.11 per cent on NSE.

In terms of trade volumes, over 32.06 lakh shares were traded on the BSE, while on NSE, over 6.95 crore shares exchanged hands so far in the day.

In an exchange filing to the BSE on Tuesday, Yes Bank said that the board of directors will meet on Friday in Mumbai to consider the fundraising by issue of equity shares/depository receipts / convertible bonds/debentures/warrants / any other equity-linked securities, subject to necessary shareholders / regulatory approvals.

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