Yes Bank Tanks 5% On Withdrawal Of QIP

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Shares in Yes Bank tanked 5 per cent, after the bank decided to withdraw its qualified institutional placement.

Yes Bank Tanks 5% On Withdrawal Of QIP
"Due to Extreme Volatility during today's trading day because of misinterpretation of new QIP guidelines, YES BANK has been advised by its appointed Merchant Bankers to defer its proposed QIP," the company said in a filing to the BSE.

The shares of Yes Bank were last trading at Rs 1288 on the NSE.

The shares of the bank have seen a spectacular rally in the last few months and only recently hit a 52-week high. This is line with the sharp rally seen private sector banks in the last few months.

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