After correcting over 8% in just 2 days thanks to the QIP fiasco, shares of Yes Bank are still ruling weak this afternoon, by almost 3%, at Rs. 1,288. Over 1.4 crore shares have changed hands on NSE, which is four fold the average volumes.

It was really poor taste on the part of this private sector lender to have withdrawn the issue due to ‘ill advise’ on the interpretation of the new QIP guidelines, despite over subscription of the book. However, there may be more to it than meets the eye!

Besides earning investor flak, the bank has lost Rs. 6,770 Crore or a billion US dollars in market capitalisation, in just a week.