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Yes Bank shares close over 2% higher on fund raising announcement

Shares of Yes Bank on Thursday closed the day with over 2 per cent gains after the company said it has filed an offer document to raise up to Rs 15,000 crore through issuance of fresh equity shares in its further public offering (FPO).

By: PTI | Delhi | July 9, 2020 6:30:38 pm
yes bank, yes bank madhu kapur, madhu kapur yes bank case, Ashok Kapur, yes bank controversy Earlier this week, Yes Bank had received an approval from the capital-raising committee (CRC) of its board to raise funds through the offering.

Shares of Yes Bank on Thursday closed the day with over 2 per cent gains after the company said it has filed an offer document to raise up to Rs 15,000 crore through issuance of fresh equity shares in its further public offering (FPO).

The stock closed at Rs 26.65, a gain of 2.11 per cent on the BSE. During the day, it rose by 5.36 per cent to Rs 27.50.

On the NSE, it gained 2.49 per cent to close at Rs 26.70.

In traded volume terms, 46.59 lakh shares were traded on the BSE and over 4 crore units on the NSE during the day.

The offer will open on July 15 and close on July 17.

Earlier this week, Yes Bank had received an approval from the capital-raising committee (CRC) of its board to raise funds through the offering.

“The bank has filed a red herring prospectus dated July 7, 2020 in connection with the offer, with the Registrar of Companies, Maharashtra at Mumbai,” Yes Bank said in a regulatory filing.

The lender said the offer size of the FPO is Rs 15,000 crore, by way of a fresh issue of equity shares, including an employee reservation portion of up to Rs 200 crore.

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