Yes Bank declined 1.79% to Rs 87.65 at 10:15 IST on BSE after the bank announced opening of the qualified institutional placement issue at a floor price of Rs 87.90 per equity share.
The announcement was made after market hours yesterday, 8 August 2019.
Meanwhile, S&P BSE Sensex was up 240.68 points or 0.64% at 37,568.12.
On BSE, 38.3 lakh shares were traded in Yes Bank counter, compared to a 2-week average of 95.43 lakh shares. The stock hit an intraday high of Rs 92.4 and an intraday low of Rs 86.75. It hit a 52-week high of Rs 404 on 20 August 2018 and a 52-week low of Rs 79.50 on 5 August 2019.
The capital raising committee of the bank's board of directors on Thursday authorised the opening of the issue on 8 August, Yes Bank said.
The committee approved the floor price for the issue being Rs 87.90 per equity share and the committee may, at its discretion, offer a discount of not more than 5% on the floor price, the bank added.
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Yes Bank said in a notice to exchanges that a committee will meet on 14 August to consider and approve the issue price and final discount.
Yes Bank's net profit fell 91% to Rs 113.76 crore on a 9.9% increase in total income to Rs 9,088.80 crore in Q1 June 2019 compared with Q1 June 2018.
Gross non-performing assets (NPAs) stood at Rs 12092.10 crore as on 30 June 2019 as against Rs 7882.56 crore as on 31 March 2019 and Rs 2824.46 crore as on 30 June 2018. The ratio of net NPAs to net advances stood at 2.91% as on 30 June 2019 as against 1.86% as on 31 March 2019 and 0.59% as on 30 June 2018. Net provisions at Rs 1784 crore in Q1 June 2019 included one off impact of Rs 1109 crore of investment MTM provision led by rating downgrades of investments in companies of two financial services groups.
Yes Bank is engaged in providing a range of banking and financial services. As on 30 June 2019 branch network stood at 1,122 and ATM network stood at 1,220.
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