YES Bank shares slipped as much as 5.35 per cent on Thursday after the lender announced share sale worth up to $1 billion in a bid to boost its capital base. At 1.36 pm, shares of YES Bank were trading 4.34 per cent down at Rs 1344.35. The scrip opened the day at Rs 1390 and has touched a high and low of Rs 1390.25 and Rs 1330.25, respectively, in trade so far. Later, shares of YES Bank closed 5.32 per cent down at Rs 1,330.65.
Yes Bank is selling Rs 6,600 crore worth of shares, or about $1 billion, to institutional investors at Rs 1,350-1,410 per share, IFR, a Thomson Reuters publication, reported, citing two bankers privy to the transaction. Goldman Sachs, CLSA, Edelweiss, Motilal Oswal, Religare and HSBC are among the lead bankers to the issue.
Shares of the YES Bank had approved equity fundraising of up to $1 billion at the bank’s annual general meeting on June 6. It had raised $500 million through a similar QIP issue in June 2014.
For the quarter ended June 30, 2016, the bank reported a net profit of Rs 731.80 crore, up 32.76 per cent, against Rs 551.20 crore in the corresponding quarter a year ago. Total income of the bank increased by 25.44 per cent year-on-year to Rs 4762.83 crore for the quarter under review against Rs 3797.02 crore in the same quarter last year.
In the past one year, shares of YES Bank have risen 116.12 per cent to Rs 1405.40 till September 7, 2016, whereas BSE Sensex gained 16.20 per cent during the same period.