Yes Bank shows interest in fundraising; Stocks jump

The shares of Yes Bank moved up by 4 per cent during the opening trade on January 8, 2020 (Wednesday). This happened a day after the bank announced that they will consider fundraising at their board meeting on January 10, 2020 (Friday).

In a BSE filing, the Indian private sector bank said that they would discuss raising of funds through issuance of equity shares, depository receipts, convertible bonds, debentures, etc (subject to regulatory approvals) at their meeting of the board of directors in Mumbai this week.

Yes Bank needs to collect funds as their core equity capital is just above the minimum regulatory requirement of 8 per cent. Besides, the bank also require fund to expand lending and provide for bad debts.

At 11.20 am, Yes Bank is trading at Rs 45.35, up by 0.55 per cent against their previous close of Rs 45.10. At the time of market opening on Wednesday, the stock was trading at Rs 45.80. Its 52-week high is Rs 285.90 and 52-week low is Rs 29.05.