On Wednesday, payments company Paytm cleared its intentions of no interest to buy stake in Yes Bank which is on the hunt for raising funds. As per a ET Now report, the leading wallet company which has diversified as a financial services company has been seeking nod for transition to a small finance bank from the regulator.
In the past, after a board meet, Yes Bank suggested that it will consider interest from Braich as well as thereafter interest sought from large European entities. The stock in today's session rose as much as 5% after the banker said to meet on Friday, January 10 and decide on fund raising plan via issuance of depository receipt or convertible bonds or debentures or warrants, through permissible modes.
Further, even as the discussion with investors have been ongoing, binding term had been further extended to January end.
Also, the news comes after the rating agency Care downgraded the company's bonds worth Rs. 21,000 crore citing ample delay in raising of equity capital.
The scrip off late has been excluded from the Sensex and the scrip can also be taken off from the Nifty.