Yes Bank jumps 4% as the lender plans to raise funds


Shares of Yes Bank jumped 4 percent in opening trade on January 8, a day after the bank said its board will meet on January 10 to consider fundraising.

In a BSE filing on January 7, the bank said: “…a meeting of the board of directors of Yes Bank will be held on Friday, January 10, 2020, in Mumbai to discuss and consider raising of funds.”

The bank plans to raise funds by issuance of equity shares/depository receipts/convertible bonds/debentures/warrants/any other equity-linked securities, through permissible modes, subject to necessary
shareholders and regulatory approvals.

Recently, Yes Bank was moved to the mid-cap category from the large-cap category by AMFI. Experts feel that the change in the category may trigger rotation of some equity mutual fund capital into the new large-caps from those that have been shifted out to the mid-cap group from the large-cap group.

Shares of Yes Bank traded 2.77 percent up at Rs 46.35 on BSE around 09:25 hours IST.

News Source:- Moneycontrol

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