Yes Bank shares jump over 6% after company said management is 'deeply engaged' in fund raising exercise

Shares of Yes Bank on Thursday jumped over 6 percent after the company said the management is 'deeply engaged' in fund raising exercise

Press Trust of India February 13, 2020 18:30:08 IST
Yes Bank shares jump over 6% after company said management is 'deeply engaged' in fund raising exercise
  • Yes Bank shares gained 5.68 percent to close at Rs 37.20 on the BSE

  • During the day, it climbed 7.95 percent to trade at Rs 38

  • Yes Bank said it has received non-binding expressions of interest from companies including JC Flowers & Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); and Silver Point Capital

New Delhi: Shares of Yes Bank on Thursday jumped over 6 percent after the company said the management is "deeply engaged" in fund raising exercise.

The scrip gained 5.68 percent to close at Rs 37.20 on the BSE. During the day, it climbed 7.95 percent to trade at Rs 38.

On the NSE, it advanced 6.39 percent to close at Rs 37.45.

Yes Bank shares jump over 6 after company said management is deeply engaged in fund raising exercise

Representational image. Reuters.

Yes Bank on Wednesday said the financial results for the third quarter ended December 2019 will be delayed and is expected by mid-March as the management is "deeply engaged" in fund raising exercise.

"As you are aware, the bank is currently engaged in capital raising. In this regard, we wish to disclose that we have received non-binding expressions of interest from several prominent investors.

Given that the current capital-raising process has the bank's fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019, on or before March 14, 2020," it said in a regulatory filing.

Yes Bank said it has received non-binding expressions of interest from companies including JC Flowers & Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); and Silver Point Capital.

Updated Date:

also read

These small financing banks offer higher interest than SCSS scheme; check rates here
Business

These small financing banks offer higher interest than SCSS scheme; check rates here

At least five banks provide senior citizens with FD interest rates of 8.5 per cent or higher, while several more banks offer 8 per cent or higher yearly interest

Want to change SBI bank account from one branch to another online? Step-by-step process here
Business

Want to change SBI bank account from one branch to another online? Step-by-step process here

Here are the steps required for switching the SBI bank account from one branch to another online.

PNB to launch online mega e-auction for properties today; here’s how to participate
Business

PNB to launch online mega e-auction for properties today; here’s how to participate

Banks often auction off any properties whose loans couldn't be fulfilled or have defaulted