For Quick Alerts
For Daily Alerts

Yes Bank Shares Climb Over 6% On Receiving Bids From Investors


Shares of Yes Bank rose as much as 6.4 percent to Rs 37.65 apiece on Thursday after the private lender confirmed that it has received expressions of interest from several investors.

Yes Bank Shares Climb Over 6% On Receiving Bids From Investors
YES Bank: Quotes, News
BSE 38.90BSE Quote1.7 (4.37%)
NSE 38.90NSE Quote1.7 (4.37%)

On Wednesday, after market hours, the bank in a stock exchange filing said, "As you are aware, the Bank is currently engaged in capital raising. In this regard we wish to disclose that we have received non-binding expressions of interest ("EOis") from several prominent investors. These include J.C. Flowers & Co. LLC; Tilden Park Capital Management LP; OHA (UK) LLP (part of Oak Hill Advisors); Silver Point Capital."

Financial results delayed

It further said that as its management was "deeply engaged" with the capital raising process, it will delay the publishing of its financial results for the December-ended quarter.

"Given that the current capital raising process has the Bank' s fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine month period ending December 31, 2019 on or before March 14, 2020," it said.

"This exceeds the 45 day period from the end of the relevant quarter as stipulated under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," it added.

Rating downgrade

Meanwhile, India Ratings and Research downgraded Yes Bank's long-term issuer rating to 'A-' from 'A', while maintaining it on rating watch negative. It the rating agency's third downgrade for the bank in a year.

"The downgrade reflects the continued delay and inconclusive quantum of the anticipated equity infusion in Yes Bank," India Ratings said.

Read more about: yes bank
Story first published: Thursday, February 13, 2020, 12:16 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more