Mumbai : Shares of Yes Bank rises over 2 percent in early trade after the bank said it has acquired an 8 per cent stake in Receivables Exchange of India (RXIL). “Yes Bank has executed a share subscription and shareholders’ agreement agreeing to subscribe for 20,00,000 equity shares of RXIL,” it said in a BSE filing on June 9.
The bank said the subscription is equivalent to 8 per cent of the post-issue paid-up capital of RXIL. RXIL is a joint venture company set up by NSE Strategic Investment Corporation and Small Industries Development Bank of India (SIDBI). The stock gained 2.1 per cent to Rs 1,062.20 on BSE. On NSE, it jumped 2.14 per cent to Rs 1,062.40.