Yes Bank to sell 10% of each of its share to global investors

It is predicted by experts than Yes bank shares may go up to Rs. 19 per piece once it blows out above Rs. 16.20 levels on closing basis.

Yes bank shares have been elevating for the last couple of sessions.. On Friday session the bank stock finished 3% on the upper side, whereas in the previous week it has gained more than 5%, comparably in the last month the private lenders share price has increased from Rs. 12.65 to Rs. 15 per piece, providing more than 18% return to their shareholders to its time horizon.

Apparently the private lenders announcement in regards to funds raise and strong Q1 earning numbers are the reason why there shares have risen. Mr. Ravi Singh, the vice president and head of research at Share India expressed that Yes Bank share are growing ever since they declared their plans of fundraising through preferential allotment, right issue. The bank has also posted remarkable earnings for June 2022 quarter with substantial leap in gross NPAs. Anyways limited upside is advises on technical setup with a target of Rs. 17 to Rs. 18 per piece.

On Friday yes bank stated lifting equity capital of approx. 1.1 billion dollar from funds join up with two global equity investors Carlyle and Advent international with each investor potentially obtaining 10% stake at Yes Bank.