Yes Bank Surges 14% On Reports Of Anshu Jain's Appointment For Raising Funds

Yes Bank shares in trade on February 5, 2020 have surged by as much as 14% to an intra-day high of Rs. 39.75 on the BSE.

Yes Bank has given a mandate to Anshu Jain, president of investment company Cantor Fitzgerald, for raising funds for the bank.

The bank has called upon an extraordinary general meeting on February 7, 2020 of its shareholders on fund raising fo Rs. 10000 crore and authorizing expansion in its authorized capital from Rs. 800 crore to Rs. 1100 crore.

In January, the country's fourth largest private banking player informed the exchanges that its board of directors have given a go ahead to raise funds up to Rs. 10000 crore in one or more tranches via QIP, GDRs, ADRs, foreign currency convertible bonds or any other route on a private placement basis.

At 11:30 am, the stock was trading higher by 8.44% or Rs. 2.95 at Rs. 37.90 per share on the BSE.

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