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YES Bank has moved higher by 7% to Rs 853 on the National Stock Exchange (NSE) on back of heavy volumes after the private sector lender said that its board approved a proposal to increase foreign institutional investor (FII)/foreign portfolio investors (FPI) limit to 74% from the existing limit of 49% of the paid-up share capital.
The bank’s board also approved a capital raising plan of upto $1 billion (Rs 6,300 crore) by way of ADR (American Depository Receipts) and/or qualified institutional placement (QIP), or any other appropriate mode as deemed suitable, YES Bank said in a press release.
The stock opened at Rs 805 and has seen two-fold jump in trading volumes. A combined 12.42 million shares changed hands on the counter on the NSE and BSE till 1451 hours on the NSE and BSE.
The bank’s board also approved a capital raising plan of upto $1 billion (Rs 6,300 crore) by way of ADR (American Depository Receipts) and/or qualified institutional placement (QIP), or any other appropriate mode as deemed suitable, YES Bank said in a press release.
The stock opened at Rs 805 and has seen two-fold jump in trading volumes. A combined 12.42 million shares changed hands on the counter on the NSE and BSE till 1451 hours on the NSE and BSE.
