Yes Bank shares dip 15% on capital infusion uncertainty

Shares of Yes Bank on Wednesday dived more than 15 per cent due to uncertainty over its USD 2-billion fund raising plan, extending the falling streak for the fifth straight session.

The stock opened lower on the BSE and slumped further by 19.48 per cent to Rs 40.70 ion day trade. It closed at Rs 42.80 with a loss of 15.33 per cent.

On the National Stock Exchange, the scrip tanked 13.85 per cent to end at Rs 43.55. Intra-day, it slumped 19.38 per cent to touch a low of Rs 40.75.

On Tuesday, the scrip closed down 10 per cent amid reports that the bank was likely to reject a capital infusion offer.

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 favourably 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 filling.

The binding offer of USD 1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion, it further added