Yes Bank falls 3%, after launching QIP to raise Rs 2,000 cr


Shares of Yes Bank fell nearly 3 percent intraday on August 9 after the private lender announced the opening of qualified institutional placement (QIP) at a floor price of Rs 87.90 per equity share with a proposed discount of not more than 5 percent.

Yes bank is planning to raise about Rs 2,000 crore ($ 285 million) via QIP. JM Financial, Motilal Oswal and CLSA are managers to the sale.The announcement was made after market hours on 8 August 2019. At 1049 hrs, Yes Bank was quoting at Rs 87.60, down Rs 1.55, or 1.74 percent on the BSE.

The share touched its 52-week high of Rs 404 and its 52-week low of Rs 79.50 on 20 August 2018 and 5 August 2019, respectively. Currently, it is trading 78.24 percent below its 52-week high and 10.57 percent above its 52-week low.