Yes Bank shares jump over 13 pc on reports of stake sale
Mumbai (Maharashtra) [India], Sept 11 (ANI): Shares of Yes Bank jumped by 13.63 per cent on Wednesday afternoon following reports that its shareholding structure may undergo a major churn by the year-end.
ANI
Sep 11, 2019 14:11 IST
Mumbai (Maharashtra) [India], Sept 11 (ANI): Shares of Yes Bank jumped by 13.63 per cent on Wednesday afternoon following reports that its shareholding structure may undergo a major churn by the year-end.
At 2 pm, the scrip was quoted at Rs 71.70 on National Stock Exchange.
Its founder Rana Kapoor has reportedly initiated talks to sell a part of his holding to One97 Communications Ltd, the parent of Paytm and Paytm Payments Bank. Kapoor and his family offices hold 10.6 per cent stake in Yes Bank.
On August 30, Yes Bank's board had proposed to increase the bank's authorised share capital from Rs 800 crore to Rs 1,100 crore for enabling an expansion in the paid-up capital.
The bank has also been reportedly talking to large private equity firms for capital infusion.
A statement issued by Yes Bank to stock exchanges said, "The bank in its usual and ordinary course of 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 statutes/regulatory approvals."(ANI)
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