Yes Bank shares plunge over 15 pc on capital infusion concerns

Shares of Yes Bank on Wednesday dived more than 15 percent due to uncertainty over its USD 2-billion fundraising plan, extending the falling streak for the fifth straight session. The stock opened lower on the BSE and slumped further by 19.48 percent to Rs 40.70 ion day trade. It closed at Rs 42.80 with a loss of 15.33 percent.

On the National Stock Exchange, the scrip tanked 13.85 percent to end at Rs 43.55. Intra-day, it slumped 19.38 percent to touch a low of Rs 40.75. On Tuesday, the scrip closed down 10 percent amid reports that the bank was likely to reject a capital infusion offers.

However, the lender after the market hours said it shall continue to evaluate other potential investors to raise capital up to USD 2 billion. "The board is willing to favorably consider the offer of USD 500 million of Citax Holdings and Citax Investment Group and the final decision regarding allotment to follow in the next board meeting, subject to requisite regulatory approval(s)," it said in a regulatory filing.

The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added.