Business Companies 07 Oct 2019 Yes Bank shares jump ...

Yes Bank shares jump over 4 per cent on fresh investment buzz

PTI
Published Oct 7, 2019, 12:25 pm IST
Updated Oct 7, 2019, 12:25 pm IST
Shares of the private sector lender rose 4.15 per cent to Rs 43.85 on the BSE.
Yes Bank chief Ravneet Gill said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office.
 Yes Bank chief Ravneet Gill said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office.

New Delhi: Shares of Yes Bank rallied over 4 per cent on Monday on prospects of fresh investments in the company.

Shares of the private sector lender rose 4.15 per cent to Rs 43.85 on the BSE.

 

On the NSE, the stock advanced 4.03 per cent to Rs 43.85.

According to the bank's chief executive Ravneet Gill, the private sector lender is in advanced stage of capital raising from investors, including global tech majors, to grow the balance-sheet that has been consciously shrunk in recent months.

Gill said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office.

A combination of the two is most likely to enter the bank soon, he said, choosing not to disclose the exact targets or timelines.

The exercise will result in the new investor/s picking up stakes above the regulatory cap and the Reserve Bank of India RBI will have to take a call on a "non-conventional" investor coming on board, he had said.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT