Stock of Yes Bank Ltd on Tuesday drooped for a seventh back to back meeting, falling beneath its follow on open offer cost of ₹12.
So far in the meeting in progress today, the stock hit a lower circuit of 10% yet recuperated a portion of its misfortunes and was exchanging at ₹11.90 is down 4.7% from its past close. Year-to-date, the stock is down 76%. fourteen days prior raised ₹15,000 crore through a follow-on open contribution at ₹12 per share. From that point forward, Yes Bank shares have fallen practically 56%.
In additionally anticipating June quarter income due later today. As per 2 Bloomberg examiner assesses, the bank may report lost ₹2,836.60 crore.
Bay Tree India, a substance constrained by American financial specialist Tilden Park, was apportioned a 7.48% stake, or 1.875 billion portions of the private moneylender. Additionally, State Bank of India said its holding in Yes Bank has boiled down to 30% after the FPO.
Yes Bank shut its FPO with 95% membership, driven by institutional speculators, even as high total assets people (HNIs) and retail financial specialists demonstrated lukewarm enthusiasm for the contribution On 17 July. The bank got memberships for shares worth ₹14,267 crore in the FPO, at the lower end of the value band of ₹12-13 for each offer.
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