Yes Bank shares climb nearly 6% trade today; here's why

Shares of Yes Bank climbed nearly 6 per cent in Monday morning trade after the announcement that private equity funds Carlyle and Advent International will invest USD 1.115 billion in the lender. The stock jumped 5.75 per cent to Rs 15.80 on the BSE. On the NSE, it advanced 5.68 per cent to Rs 15.80 apiece.

After trials and tribulations on fundraising that lasted well over three years, Yes Bank on Friday announced that Carlyle and Advent International will be investing USD 1.115 billion (around Rs 8,900 crore).

Both the global PE funds will be acquiring a 10 per cent stake each in the private sector lender, which had to be bailed out in a RBI and government-led reconstruction scheme for want of capital buffers and after the then management failed to sell the bank's story to investors.