Yes Bank shares on Wednesday fell about 10 per cent after the lender denied the reports about strategic investment by Microsoft Corporation and two other tech firms for likely stake sale.
Yes Bank shares on Wednesday fell about 10 per cent after the lender denied the reports about strategic investment by Microsoft Corporation and two other tech firms for likely stake sale. The denial came a couple of days after a report said that Microsoft is among the three firms that are in talks with the private sector lender for stake sale. The stock of the private lender tumbled 9.98 per cent intraday to Rs 41.05 as compared the previous closing price of 45.60. The stock was the top laggard on both NSE and BSE. “Not aware of the source, which resulted in the news item and as a matter of policy, the bank would not like to comment on such article,” YES Bank said in an exchange filing. YES Bank shares were trading at Rs 44.10, down 1.55 points, or 3.40 per cent on NSE at the time of reporting.
“The Bank in the usual and ordinary course of its business continues to explore various means of raising capital/ funds through issuance of securities to diverse set of investors, in order to meet its business I regulatory requirements, subject to compliance with prescribed procedures and receipt of statutory I regulatory approvals,” the private lender also said.
Meanwhile, YES Bank recently filed a complaint against the fake news and rumours circulating on WhatsApp and other social media platforms regarding the bank’s financial health. YES Bank issued a statement and said that it will continue to protect the interest of its stakeholders. The bank has been reiterating its sound financial health after the bank’s promoter group company Morgan Credits sold 2.3 per cent stake in the company. “The board of directors of YES Bank would like to state that the financial position of the bank is sound and stable, its operating performance continues to be robust, and its growth plans stay firmly on track,” YES Bank said in a statement.