Yes Bank Shares Fall On Reports Of QIP Issues

Shares in Yes Bank fell as much as 2.5 per cent, amid reports that the Securities and Exchange Board of India was looking into certain discrepancies, regarding its Qualified Institutional Placement.

Earlier, the bank had proposed a sizeable Qualified Institutional Placement offer.

The shares had run-up sharply ahead of the QIP and had fallen after the cancellation reports.
On the day the cancellation was announced, the stock had dropped by a huge 8 per cent.

Yes Bank, along with several other private sector banks, have been star performers in the last one year.

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