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

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.

#MarketAtClose | YES BANK sheds 15% to ends at 2-month low after inconclusive board meet pic.twitter.com/XgpEuIvb5t

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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. [caption id=“attachment_5595711” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] 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.