Business News

Yes Bank shares fall nearly 4 pc amid reports

Yes Bank shares fall nearly 4 pc amid reports

New Delhi : Shares of Yes Bank fell nearly 4 per cent today amid reports that market regulator Sebi is looking into discrepancies in the company’s deferred USD 1 billion QIP plan.

The stock fell by 3.78 per cent to Rs 1,206 on BSE. At NSE, shares of the company went down by 3.77 per cent to Rs 1,206.20. On the volume front, 2.50 lakh shares of the company were traded on BSE and over 29 lakh shares changed hands at NSE in morning trading session.

Yes Bank, last week, deferred its plans to raise USD 1 billion, citing extreme volatility in trading due to misinterpretation of new QIP guidelines. Since then, the stock has declined by over 8 per cent.

As per media reports, Sebi is looking into the company’s notices to stock exchanges about the planned equity placement, surge in the scrip in the run-up to the issue date and its intra-day fall before the announcement to call off the issue.