Yes Bank shares extend falling streak for fifth straight session, plunge over 15% on capital infusion concerns

  • The stock opened lower on the BSE and slumped further by 19.48% to Rs 40.70 ion day trade

  • On the National Stock Exchange, the scrip tanked 13.85% to end at Rs 43.55

  • On Tuesday, the scrip closed down 10% amid reports that the bank was likely to reject a capital infusion offer

New Delhi: Shares of Yes Bank on Wednesday dived more than 15 percent due to uncertainty over its $2-billion fundraising plan, extending the falling streak for the fifth straight session.

The stock opened lower on the BSE and slumped further by 19.48 percent to Rs 40.70 in day trade. It closed at Rs 42.80 with a loss of 15.33 percent.

 Yes Bank shares extend falling streak for fifth straight session, plunge over 15% on capital infusion concerns

Representational image. Reuters.

On the National Stock Exchange (NSE), the scrip tanked 13.85 percent to end at Rs 43.55. Intra-day, it slumped 19.38 percent to touch a low of Rs 40.75.

On Tuesday, the scrip closed down 10 percent amid reports that the bank was likely to reject a capital infusion offer.

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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Updated Date: Dec 11, 2019 18:41:33 IST