 "YES Bank ends 24% higher on $1.2 billion binding offer from global investor")
Shares of YES Bank moved higher by 35 per cent to Rs 76.40 on the BSE in the intra-day deals on Thursday after the private sector lender said it has received a binding offer of US $1.2 billion from a global investor.
“The bank has received a binding offer from a global investor for an investment of US $ 1.2 billion in the Bank through fresh issuance of equity shares, subject to regulatory approvals/conditions as well as Bank's board and shareholders approvals,” YES Bank said in a regulatory filing. READ FILING HERE
The Bank continues to be in advanced discussions with other global and domestic investors, it added.
With today’s rally, YES Bank has soared 163 per cent from its 52-week low price of Rs 29.05 touched on October 1, 2019.
The stock eventually settled at Rs 70.45 on the BSE, up 24 per cent.
The stock eventually settled at Rs 70.45 on the BSE, up 24 per cent.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%