YES Bank shares rebound after 32% fall in 5 days
There are a number of reports on the private lender doing the rounds on Dalal Street. First, a dated December 10 letter by Citax Holdings is buzzing on social media platforms that say the London-based company has instructed its banks to deposit $5...
By ETMarkets.com | Updated:
NEW DELHI: Shares of YES Bank rebounded on Thursday after falling 32 per cent in the past five trading sessions.
There are a number of reports on the private lender doing the rounds on Dalal Street. First, a dated December 10 letter by Citax Holdings is buzzing on social media platforms that say the London-based company has instructed its banks to deposit $500 million in YES Bank account within 10 working days. ETMarkets.com could not verify the origin of the letter.
Moreover, in an interaction with ET NOW on Wednesday, YES Bank CEO and MD Ravneet Gill said the bank was confident of raising more than $500 million in this round of funding and there were plan B and C in place to ensure this.
Also, According to a market expert, there are rumors that the government might support the lender in some form.
Earlier the shares of the bank plunged as it struggled to raise funds.
The lender on Tuesday said it was looking at raising $500 million of the $2 billion target, putting a question mark on its ability to mop up the badly-needed capital.
Gill had told ET NOW that Canadian investor Erwin Singh Braich’s offer was not off the table and discussion is still on.
The shares of the company closed 5.96 per cent higher at Rs 45.35 on BSE.
There are a number of reports on the private lender doing the rounds on Dalal Street. First, a dated December 10 letter by Citax Holdings is buzzing on social media platforms that say the London-based company has instructed its banks to deposit $500 million in YES Bank account within 10 working days. ETMarkets.com could not verify the origin of the letter.
Moreover, in an interaction with ET NOW on Wednesday, YES Bank CEO and MD Ravneet Gill said the bank was confident of raising more than $500 million in this round of funding and there were plan B and C in place to ensure this.
Also, According to a market expert, there are rumors that the government might support the lender in some form.
Earlier the shares of the bank plunged as it struggled to raise funds.
The lender on Tuesday said it was looking at raising $500 million of the $2 billion target, putting a question mark on its ability to mop up the badly-needed capital.
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Gill had told ET NOW that Canadian investor Erwin Singh Braich’s offer was not off the table and discussion is still on.
The shares of the company closed 5.96 per cent higher at Rs 45.35 on BSE.
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