Yes Bank rises on share prices after board FPO approval. Moreover, Yes Bank share price rises and gained 2 per cent to Rs 26.25 apiece. On BSE after falling 5.5 per cent in early trade, a day after the private lender board approved the fundraising plan. Yes Bank in an exchange filing said that its capital raising committee of the Board of Directors has approved raising funds by way of a further public offering.
Bank informed that a meeting of the CRC is scheduled to be held on or after July 10, to consider and approve the price band and discount, if any, as permitted under the provisions of the SEBI ICDR Regulations.On March 5, the Reserve Bank of India had put the institution under moratorium which was lifted on March 18. Prashant Kumar is appointed as the new MD and CEO of the bank.
Yes Bank stock price hit a 52-week low of Rs 5.55 in March this year.The 200 day moving average of the stock is Rs. 40.48. The market capitalization currently stands at Rs 33,070 crore.
In March, Yes Bank received Rs 10,000 crore bailout by State Bank of India (SBI). Including other investors like Housing Development Finance Corporation (HDFC). Also Axis Bank, ICICI Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First Bank.
On July 8, the stock closed at Rs. 26.10 on the National Stock Exchange.
🔥 #YesBank FPO:
Capital Raising Committee (CRC) of d #YesBank at its meeting held earlier today has approved raising funds by way of a further public offering (FPO)CRC will meet on July 10, to consider & approve, amongst other things, Price Band
— Stocks Ki Baat (@stockskibaat) July 7, 2020
