YES Bank turns volatile post QIP launch, plunges 9%

According to reports, the lender plans to raise Rs 2,000-3,000 crore through the QIP issue.

Shares of YES Bank turned volatile, falling 12 per cent from intra-day high on Friday, after the private sector lender announced opening of the qualified institutional placement (QIP) issue on Thursday.

YES Bank was down 9 to Rs 81.20 in intra-day trade, slipping 12 per cent from its early morning high of Rs 92.40 on the BSE. The stock opened 2 per cent higher at Rs 91 against Thursday’s close of Rs 89.15. At the time of writing this report, it was trading close to its 52-week low of Rs 79.50 touched on August 5, 2019.

At 02:42