Yes Bank hits new high

Yes Bank has taken the slot since the morning as the top gainer on the BSE, opening stable at Rs.17.75 but soon jumping up to hit a new 52-week high at Rs.20.50. And it continues to trade at Rs.19.55 levels currently. Volumes are up over 8-times.

The stock price surged after private equity funds, Carlyle and Advent received the RBI nod to own up to 9.99% in Yes Bank

These PE funds had evinced interest in July’22 to bring in over Rs 8,000 crore in Yes Bank but was waiting for regulatory approvals. 

This approval makes it one of the largest capital raising by a domestic private lender and more importantly, will enable Yes Bank to have one of the highest capital ratios among peers.

Additionally, Yes Bank moved the National Company Law Tribunal (NCLT) to initiate corporate insolvency resolution process against Digital Ventures, a wholly-owned unit of Zee Learn.