Funds hope propels Yes Bank
Shares of Yes Bank on Thursday jumped over 6 per cent after the company said the management was “deeply engaged” in a fund-raising exercise.
The scrip gained 5.68 per cent to close at Rs 37.20 on the BSE. During the day, it climbed 7.95 per cent to trade at Rs 38. On the NSE, it rose 6.39 per cent to Rs 37.45.
Yes Bank on Wednesday said the financial results for the third quarter ended December 2019 will be delayed and is expected by mid-March as the management is “deeply engaged” in fund raising .
“The bank is currently engaged in capital raising. We have received non-binding expressions of interest from several prominent investors. Given that the current capital-raising process has the bank’s fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019, on or before March 14, 2020,” it said
Yes Bank said it has received non-binding expressions of interest from companies such as JC Flowers, Tilden Park Capital Management and Silver Point Capital.