Yes Bank share price falls 2% ahead of board meet for fund raising

yes-bank

Yes Bank share price fell 2.6 percent in the morning trade on November 29 ahead of the private lender’s board meeting to consider fund raising.

In the meeting, scheduled later in the day, the board of directors will discuss raising capital through issue of equity or equity-linked securities.

The fund-raising is subject to necessary shareholders and regulatory approvals.

Trading window for dealing in bank securities closed for the designated persons and for the connected persons from November 27 and will continue to be so till December 1.

Recently, the lender offloaded more than 47 lakh shares of Reliance Capital, worth nearly Rs 8 crore, in three consecutive days of selling.

At 11:52 hrs Yes Bank was quoting at Rs 68.65, down Rs 1.40, or 2.00 percent on the BSE.

The share price declined 70 percent in last 9 months.

News Source:- MoneyControl

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