Stocks

Yes Bank shares jump over 6% on fund raising buzz

PTI New Delhi | Updated on February 13, 2020 Published on February 13, 2020

Shares of Yes Bank on Thursday jumped over 6 per cent after the company said the management is “deeply engaged” in fundraising exercise.

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

On the NSE, it advanced 6.39 per cent to close at ₹37.45.

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 fundraising 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 had 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.

Published on February 13, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.