Yes Bank shares plunge nearly 10 pc amid capital infusion
The stock dived 10.05 per cent to end at Rs 50.55 on the BSE. During the day, it plunged 12.27 per cent to Rs 50.55.
On the National Stock Exchange (NSE), the company's shares tumbled 10.4 per cent to close at Rs 50.40 apiece. During the day, the stock plummeted 13.68 per cent on the NSE.In terms of the equity volume, 2.29 crore shares of the company were traded on the BSE and over 34.5 crore shares changed hands on the NSE during the day. Advertisement
According to reports, the bank was likely to reject the offer of the proposed capital infusion.
However, the lender after the market hours said it shall continue to evaluate other potential investors to raise capital up to USD 2 billion."The board is willing to favourably consider the offer of USD 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 USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added. SHW HRS
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Health Ministry launches portal for info on vaccine, clinical trials
- Elon Musk's SpaceX will launch another 60 Starlink internet satellites into Earth’s orbit tonight
- Farmers protest in India intensify — Kerala MP and Punjab CM to move the Supreme Court, three Punjab BJP leaders resign
- Best smartphones with 256GB of internal storage
- Maharashtra’s restaurants and bars are likely to reopen for dine-in services