Yes Bank shares plunge 15 pc on capital infusion concerns

Shares of Yes Bank on Wednesday tanked nearly 15 percent in the morning trade following uncertainty over its USD 2-billion fundraising plan. On the BSE, the scrip after opening on a negative note further slumped 14.83 percent to Rs 43.05.

On the NSE, the shares fell 14.83 percent to Rs 43.05. The shares on Tuesday closed with over 10 percent loss amid reports the bank was likely to reject the offer of the proposed capital infusion.

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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)