Shares of Yes Bank took a U-turn on Wednesday. The company's shares are currently trading marginally higher.
The bank informed regarding the invocation of pledge of shares, acquired 127,321,500 equity shares having nominal value of Rs10/- per share, constituting ~29.97% of the post-issue paid-up share capital of Rosa Power Supply Company Limited, a wholly owned subsidiary of Reliance Power Limited (RPSCL).
The bank said that the shares have been acquired pursuant to invocation to pledge of shares of RPSCL subsequent to default/breach of terms of credit facilities sanctioned by Yes Bank to Reliance Power Limited.
Further, the bank announced on Tuesday that it would seek shareholders' nod to raise Rs10,000cr via a combination of equity and debt. The decision will be taken at the bank's Extraordinary General Meeting Scheduled on Feb 7, 2020.
The private lender will also seek shareholder’s nod to increase the authorized share capital from Rs800cr to Rs1,100cr, as per the bank's regulatory filing.
The board of directors of Yes Bank had on Friday approved the fund raising plan.
Yes Bank Ltd is currently trading at Rs39.05 up by Rs0.5 or 1.3% from its previous closing of Rs38.55 on the BSE.
The scrip opened at Rs38.55 and has touched a high and low of Rs39.45 and Rs36.65 respectively. So far 15,72,88,246 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs9,832.07cr.
The bank informed regarding the invocation of pledge of shares, acquired 127,321,500 equity shares having nominal value of Rs10/- per share, constituting ~29.97% of the post-issue paid-up share capital of Rosa Power Supply Company Limited, a wholly owned subsidiary of Reliance Power Limited (RPSCL).
The bank said that the shares have been acquired pursuant to invocation to pledge of shares of RPSCL subsequent to default/breach of terms of credit facilities sanctioned by Yes Bank to Reliance Power Limited.
Further, the bank announced on Tuesday that it would seek shareholders' nod to raise Rs10,000cr via a combination of equity and debt. The decision will be taken at the bank's Extraordinary General Meeting Scheduled on Feb 7, 2020.
The private lender will also seek shareholder’s nod to increase the authorized share capital from Rs800cr to Rs1,100cr, as per the bank's regulatory filing.
The board of directors of Yes Bank had on Friday approved the fund raising plan.
Yes Bank Ltd is currently trading at Rs39.05 up by Rs0.5 or 1.3% from its previous closing of Rs38.55 on the BSE.
The scrip opened at Rs38.55 and has touched a high and low of Rs39.45 and Rs36.65 respectively. So far 15,72,88,246 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs9,832.07cr.
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