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.