Trade Nivesh Yes Bank's stock fell by 5% on Tuesday, but later it managed to recover to some extent. Actually, the board of Yes Bank is going to meet today. A decision on the proposed investment offer is going to be made in it.
The board of directors of Yes Bank will finalize the allocation of preferential shares in the meeting. Then this resolution will be passed. After this, the bank's extraordinary common all ie EGM will be called, in which approval will be taken from the shareholders.
Yes Bank is trying to raise $ 2 billion in capital through the allocation of preferential shares. Many foreign and domestic investors have shown interest in this bank. Capital International is going to invest $ 12 million in this bank, which is part of the US $ 1.87 lakh crore capital group.
In addition, Discovery Capital will invest $ 5 million, Ward Fairey $ 3 million, SPGP Holdings $ 1.2 billion, Rakesh Jhunjhunwala $ 2.5 million and Aditya Birla family $ 2.5 million. Many analysts are considering this stock as suitable for contra investing.
According to media reports, the bank's board may reject the offers of SPGP Holdings and Ervin Singh Brach. Both have offered to invest 60 per cent of the amount of $ 2 billion. Rakesh Jhunjhuwala's claim is also seen in the sourness.
Actually the bank needs money to improve the level of liquidity. The bank can also explore other options to improve this. At 11.10 am, Yes Bank shares were trading at Rs 54.90, taking a dive of 2.31 per cent.
The board of directors of Yes Bank will finalize the allocation of preferential shares in the meeting. Then this resolution will be passed. After this, the bank's extraordinary common all ie EGM will be called, in which approval will be taken from the shareholders.
Yes Bank is trying to raise $ 2 billion in capital through the allocation of preferential shares. Many foreign and domestic investors have shown interest in this bank. Capital International is going to invest $ 12 million in this bank, which is part of the US $ 1.87 lakh crore capital group.
In addition, Discovery Capital will invest $ 5 million, Ward Fairey $ 3 million, SPGP Holdings $ 1.2 billion, Rakesh Jhunjhunwala $ 2.5 million and Aditya Birla family $ 2.5 million. Many analysts are considering this stock as suitable for contra investing.
According to media reports, the bank's board may reject the offers of SPGP Holdings and Ervin Singh Brach. Both have offered to invest 60 per cent of the amount of $ 2 billion. Rakesh Jhunjhuwala's claim is also seen in the sourness.
Actually the bank needs money to improve the level of liquidity. The bank can also explore other options to improve this. At 11.10 am, Yes Bank shares were trading at Rs 54.90, taking a dive of 2.31 per cent.
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