Shares of the Yes Bank rose more than 2 per cent on Friday after the company said that it has executed a share subscription agreeing to subscribe equity shares of Receivables Exchange of India Limited (RXIL).
"Yes Bank has executed a share subscription and shareholders' agreement agreeing to subscribe for 20,00,000 equity shares of RXIL," Yes Bank said in a BSE filing.
The shares are equivalent to 8% of the post-issue paid-up capital of RXIL, as per the terms of the aforesaid agreement.
RXIL is a joint venture company setup by NSE Strategic Investment Corporation Limited and Small Industries Development Bank of India.
Shares of the bank were seen trading at Rs 1066, higher by 2.04 per cent on BSE at 12.35 pm IST. It touched an intra-day high of Rs 1066 during the trade.
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/img/2016/06/salaryincrease2-10-1465542676.jpg "Yes Bank Shares Gain On Subscribing Stake In RXIL")
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