Yes Bank Ltd Updates on Qualified Institutional Placement

Yes Bank Ltd has announced with referenec to the approval accorded by the Capital Raising Committee of the Bank to open the QIP and of the proposed meeting of the Capital Raising Committee of the Bank on September 12, 2016.

It has now clarified that the said date has been intimated in compliance with recently notified regulations, namely Regulation 29(1) read with Regulation 29(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, which requires a notice of at least two clear working days for meetings of the board of directors for determination of issue price in connection with a fund raising.

Consequently, in compliance with the above mentioned Regulations, the Issue Price for the QIP cannot be determined by the Bank prior to the aforesaid meeting on September 12, 2016. Accordingly, the Bank is required to keep the issue open till September 09, 2016.

Shares of YES BANK LTD. was last trading in BSE at Rs.1330.65 as compared to the previous close of Rs. 1405.4. The total number of shares traded during the day was 466727 in over 22716 trades.

The stock hit an intraday high of Rs. 1390.25 and intraday low of 1325. The net turnover during the day was Rs. 629507278.

Source : Equity Bulls

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