Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Yes Bank Jumps Nearly 11% on Reports of Likely Equity Infusion by PE Firms

At 2.09 pm, shares of Yes Bank were trading at Rs 101.80, up 9.2%, on BSE. The stock has lost 75% of its value in the last one year.

Trending Desk

Updated:July 17, 2019, 1:11 PM IST
facebookTwitterskypewhatsapp
Loading...

Yes Bank Ltd shares rallied nearly 11% in intraday trade on Tuesday, July 16, as Economic Times reported that a consortium of private equity (PE) firms have offered to buy a major stake in the private lender. Notably, the bank will also be announcing its June quarter earnings tomorrow, July 17.

Sources told the newspaper that a US-based private equity investor has made an offer to acquire stake worth $850 million stake in Yes Bank, the term sheet offer for which was received by the bank over the weekend.

According to the report, the consortium comprises four PE firms – two domestic and two US-based. The consortium leader may pick up a 10% per in Yes Bank, while the rest of them together may acquire another 10%. Yes Bank is likely to make the announcement after its June quarter earnings.

However, Yes Bank, in its clarification note to exchanges, said the bank in the ordinary course of its business continued to explore various means of raising capital/funds through issuance of securities to a diverse set of investors, in order to meet its business/regulatory requirements.

Meanwhile, another report by BloombergQuint said that Yes Bank is looking to raise $1-1.2 billion. However, to avoid excess equity dilution for its existing shareholders, it might do so in two rounds, the report added quoting sources.

At 2.09 pm, shares of Yes Bank were trading at Rs 101.80, up 9.2%, on BSE. The stock has lost 75% of its value in the last one year.

In the March quarter, Yes Bank had reported its biggest-ever loss of Rs 1,506.60 crore as the lender underwent a massive balance sheet clean-up task under new chief executive Ravneet Gill. Since then, investors have had concerns regarding Yes Bank’s asset quality and future growth prospects. Gill had, however, time and again assured investors that the worst is over for the bank and there are unlikely to be any further nasty surprises due to higher bad loans or slippages from its watchlist.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 553.80 0.55
Reliance 1,290.50 0.98
Yes Bank 78.30 -1.45
Sun Pharma 427.90 3.18
HDFC Life 550.00 1.82
Company Price Change %Gain
IndiGrid InvIT 86.29 -1.83
Indiabulls Hsg 553.80 0.49
SpiceJet 148.10 3.21
Yes Bank 78.30 -1.45
Sun Pharma 427.50 3.07
Top Gainers
Company Price Change %Gain
Bharti Infratel 258.35 3.67
Sun Pharma 427.90 3.18
Dr Reddys Labs 2,556.60 2.57
Larsen 1,359.85 1.84
ICICI Bank 425.90 1.66
Company Price Change %Gain
Sun Pharma 427.45 3.06
ICICI Bank 425.85 1.60
NTPC 119.70 1.57
Larsen 1,360.00 1.88
Axis Bank 685.20 1.43
Top Losers
Company Price Change %Gain
Power Grid Corp 206.25 -2.32
Tata Steel 363.05 -0.44
GAIL 127.75 -1.47
Yes Bank 78.30 -1.45
UPL 544.90 -0.76
Company Price Change %Gain
Power Grid Corp 206.35 -2.32
Yes Bank 78.30 -1.45
Tata Steel 357.40 -1.50
ONGC 127.10 -0.82
SBI 289.75 -0.41

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results