NEW DELHI: Shares of private lender Yes Bank has been performing well in the stock markets since the past few sessions. On Tuesday, the stock jumped nearly 13% and closed at Rs 17.14 on the BSE.
In fact, the stock has surged nearly 20% in the last 3 sessions and is trading at its highest level since January 2021.
Stock price surged after the announcement that private equity funds Carlyle and Advent International will invest $1.115 billion in the lender.
After trials and tribulations on fundraising that lasted well over three years, Yes Bank on Friday announced that Carlyle and Advent International will be investing $1.115 billion (around Rs 8,900 crore).
Both the global PE funds will be acquiring a 10% stake each in the private sector lender, which had to be bailed out in a RBI and government-led reconstruction scheme for want of capital buffers and after the then management failed to sell the bank's story to investors.
In a statement, the bank said USD 640 million or Rs 5,100 crore has been raised by issuing equity shares and $475 million or Rs 3,800 crore through equity share warrants.
As part of the capital raise, which is the second biggest for any private sector lender, the bank will issue 370 crore equity shares on a preferential basis at a price of Rs 13.78 per share, and 257 crore warrants convertible into equity shares at a price of Rs 14.82 per warrant.
(With inputs from agencies)
