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1-min read

Yes Bank Shares Gain Over 8% on Fresh Investment Buzz

Shares of the private sector lender settled 8.19 percent higher at Rs 45.60 on the BSE. Intra-day, the stock gained as much as 10.79 percent at Rs 46.70.

PTI

Updated:October 7, 2019, 6:12 PM IST
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Yes Bank Shares Gain Over 8% on Fresh Investment Buzz
Image for representation. (Photo: Reuters)

New Delhi: Shares of Yes Bank rallied over 8 per cent on Monday on prospects of fresh investments in the company.

Shares of the private sector lender settled 8.19 percent higher at Rs 45.60 on the BSE. Intra-day, the stock gained as much as 10.79 percent at Rs 46.70.

On the NSE, the stock closed 7.59 percent up at Rs 45.35. During the day, the scrip gained 11.03 per cent at Rs 46.80.

The market capitalisation of the lender increased by over Rs 1,860.7 crore to Rs 11,629.51 crore.

According to media reports, Yes Bank was in talks with technology companies and PE investors for strategic investment.

A media report claimed that the bank was in talks with Microsoft Corp and two other tech companies to rope them in as strategic investors as part of its efforts to raise capital.

Stock exchanges also sought clarification from Yes Bank over the reports.

Replying to the clarification, Yes Bank said it is "not aware of the source, which resulted in the above mentioned news item and as a matter of policy, the Bank would not like to cormnent on such article."

"The Bank in the usual and ordinary course of its business continues to explore various means of raising capital/ funds through issuance of securities to diverse set of investors, in order to meet

its business, regulatory requirements, subject to compliance with prescribed procedures and receipt of statutory or regulatory approvals'" the bank said in its reply.

Yes Bank chief executive Ravneet Gilll last week had told PTI that the private bank was in advanced stage of capital raising from investors, including global tech majors, to grow the balance-sheet that has been consciously shrunk in recent months.

Gill had said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office.

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