Yes Bank stock zooms over 38 pc after 1.2bn offer buzz

Yes Bank. (Reuters File Photo)

Shares of Yes Bank on Thursday rallied over 38 per cent after the lender said it had received a binding offer for USD 1.2 billion (approximately Rs 8,500 crore) funding from an overseas investor.

Shares of the private sector lender zoomed 34.94 per cent to Rs 76.65 apiece on the BSE.

On the NSE, the stock soared 38.55 per cent to Rs 78.70.

"The bank would like to inform that it has now received a binding offer from a global investor for an investment of USD 1.2 billion in the bank through fresh issuance of equity shares," it said on Thursday.

Last month, the bank had informed stock exchanges that it had received strong interest from multiple foreign as well as domestic private equity and strategic investors for the capital raise and remains firmly on course to raising growth capital subject to necessary approvals.

The troubled private sector lender had said that it was looking for capital either from a private equity investor or a strategic investor or family office.

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