YES Bank extends fall; dips 15% in four days

The stock was down 4.5% at Rs 1,219, falling 15% in four trading days from Rs 1,441, wiping out nearly Rs 9,500 cr in investor wealth.

YES Bank has dipped nearly 6% to Rs 1,202 in intra-day trade, extending its over 10% decline in the past three trading sessions on the BSE, after the private sector lender said it has deferred its proposed qualified institutional placement (QIP) of shares.

At 10:56 am, the stock was down 4.5% at Rs 1,219, falling 15.4% in past four trading sessions from Rs 1,441 on September 9, wiping out nearly Rs 9,500 crore in investor wealth. The S&P BSE Sensex has declined 2% during the same period.

On Thursday, September 8, YES Bank after market hours announced that due to extreme volatility during trading day because of misinterpretation of new qualified institutional placement (QIP) guidelines, the bank has been advised by its appointed merchant bankers to defer its proposed QIP.