Yes Bank shares gain over 5 pc on fund raising announcement

Shares of Yes Bank on Thursday gained over 5 per cent after the company said it has filed an offer document to raise up to Rs 15,000 crore through issuance of fresh equity shares in its further public offering (FPO).

The stock rose 5.36 per cent to Rs 27.50 on BSE. At NSE, it gained 5.56 per cent to Rs 27.50.

The offer will open on July 15 and close on July 17.

Earlier this week, Yes Bank had received an approval from the capital-raising committee (CRC) of its board to raise funds through the offering.

"The bank has filed a red herring prospectus dated July 7, 2020 in connection with the offer, with the Registrar of Companies, Maharashtra at Mumbai," Yes Bank said in a regulatory filing.

The lender said the offer size of the FPO is Rs 15,000 crore, by way of a fresh issue of equity shares, including an employee reservation portion of up to Rs 200 crore.