Yes, the bank's shares rise more than 3 pcs after the financing announcement
New Delhi, December 2 () Yes Bank shares rose more than 3 percent on Monday after the company said eight investors had expressed interest in injecting USD 2 billion into the private sector private lender.
The scrip jumped 3.22 percent to Rs 70.50 in the BSE.
In the NSE, he gained 1.46 percent to Rs 69.30.
However, he later gave up all of his initial earnings and was trading 2.34 percent lower at Rs 66.70 at 1140 hours in the BSE.
At the end of the suspense weeks, Yes Bank said Friday that eight investors led by Erwin Singh Braich have expressed interest in injecting USD 2 billion into the lender.
The bank's board of directors will meet again on December 10 to finalize and approve the details of the capital infusion, which will be done through a preferential allocation, the exchanges reported.
Investors who have shown interest also include Aditya Birla Family Office and Rekha Jhunjhunwala, wife of market investor Rakesh Jhunjhunwala, who have committed USD 25 million each, the bank said. The largest investor is Braich/SPGP Holding, which has committed USD 1.2 billion, followed by Citax Holding, which has committed USD 500 million, the bank said, adding that the talks with Braich/SPGP continue and are expected to conclude shortly. SUM BAL