Yes Bank Shares Fall 9% Intraday

Yes Bank shares fell 9% intraday on August 9 after it 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.

The company in its release dated August 8 said that the bank is currently in the process of appointing new key managerial personnel, including the chief financial officer, chief compliance officer and chief operating officer.

Currently, Raj Ahuja is the chief financial officer and Rakesh Mehran is serving as the chief compliance officer of the private lender.

At 1427 hrs Yes Bank was quoting at Rs 82.35, down Rs 6.80, or 7.63 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 79.03 percent below its 52-week high and 6.54 percent above its 52-week low.