Yes bank stock hits the highest since January 2021

Shares of Yes Bank have been performing admirably; it has elevated 15% to Rs 17.46, and reached the top level since the foregoing year, on the BSE in Tuesday’s intra-day trade. The stock of the bank exceeded its previous high of Rs 17.55 that it had reached on January 25, 2021.

In the last three trading days, Yes Bank profited by 20 per cent after the private lender bank declared to raise equity capital of around 1.1 billion (Rs 8,900 crore) from capital attached with two private equity investors who are on global level – Carlyle and Advent International, with every investor possibly receiving up to 10 per cent stake in the lender.

Yes Bank will increase capital through an amalgamation of about $640 million (Rs 5,100 crore) in shares and about $475 million (Rs 3,800 crore) in the form of share warrants. It will provide 3.69 billion shares to join forces with Carlyle Group and Advent.

 Yes Bank said that their bank propounds to issue 3,700 million equity shares on a way of preferential basis at Rs 13.78 per share and around 2,570 million warrants in the form of convertible into equity shares at Rs 14.82 per warrant, summing up Rs 8,900 crore to the equity capital base of the bank.

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