Yes Bank shares continues to drop: Stock tanks nearly 15% after falling 10% on bourses on Tuesday over fundraising concern

Shares of Yes Bank on Wednesday tanked nearly 15 percent in the morning trade following uncertainty over its $2-billion fundraising plan

Press Trust of India December 11, 2019 12:50:40 IST
Yes Bank shares continues to drop: Stock tanks nearly 15% after falling 10% on bourses on Tuesday over fundraising concern
  • On the BSE, Yes Bank shares after opening on a negative note further slumped 14.83 percent to Rs 43.05

  • The shares on Tuesday closed with over 10 percent 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

New Delhi: Shares of Yes Bank on Wednesday tanked nearly 15 percent in the morning trade following uncertainty over its $2-billion fundraising plan.

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

On the NSE, the shares fell 14.83 percent to Rs 43.05.

The shares on Tuesday closed with over 10 percent 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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