Business Standard

YES Bank declines 8% as it rejects $1.2 bn offer by Braich, SPGP Holdings

YES Bank board has rejected $1.2 billion offer by Erwin Singh Braich and SPGP Holdings. At the same time, the bank's board has approved fund raising of up to Rs 10,000 crore

YES Bank
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YES Bank

SI Reporter Mumbai
Shares of YES Bank slipped 8 per cent to Rs 41.20 on the BSE on Monday in the early morning deals after the private sector lender scaled down its fundraising plan substantially to Rs 10,000 crore, from nearly $2 billion approved by the board in November, as it continued with its struggle to get investors. The stock ended 5 per cent lower at Rs 44.80 on Friday.

YES Bank board has rejected $1.2 billion offer by Erwin Singh Braich and SPGP Holdings. At the same time, the bank’s board has approved fund raising of up to Rs 10,000 crore.

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