Yes Bank shares jump over 4% on fresh investment buzz

Shares of Yes Bank rallied over 4 per cent on Monday on prospects of fresh investments in the company.

Shares of the private sector lender rose 4.15 per cent to Rs 43.85 on the BSE.

On the NSE, the stock advanced 4.03 per cent to Rs 43.85.

According to the bank’s chief executive Ravneet Gill, the private sector lender is in advanced stage of capital raising from investors, including global tech majors, to grow the balance-sheet that has been consciously shrunk in recent months.

Gill said the new investor/s will be either a strategic partner like a tech company, or a financial investor or a deep-pocketed family office.

A combination of the two is most likely to enter the bank soon, he said, choosing not to disclose the exact targets or timelines.

The exercise will result in the new investor/s picking up stakes above the regulatory cap and the RBI will have to take a call on a “non-conventional” investor coming on board, he had said.