Rakesh Jhunjhunwala offer to invest $25 million has become doubtful due to uncertainty over the bank’s capital raising plans.
Mumbai: Yes Bank shares fell over 15 per cent on Wednesday with market’s growing disappointed over the bank’s failure to rope in quality investors and a also potential investor backing out.
With Tuesday’s over eight per cent fall the share of the bank are down over 23 per cent in the last two sessions as the shares closed 15.33 per cent lower at Rs 42.80 on the BSE and at `43.55 on the NSE.
Yes Bank after the board meeting on Tues-day had informed stock exchanges about its recent dealing with potential investors in the bank’s ongoing capital raising plan with two offers worth $500 million of Citax Holdings and Citax Investment Group and $1.2 billion binding offer submitted by Erwin Singh Braich / SPGP Holdings. But another potential investors Rakesh Jhunjhunwala offer to invest $25 million has become doubtful due to uncertainty over the bank’s capital raising plans.