Yes Bank’s shares fell 12 per cent to hit an eight week low after two large brokerages to brokerages to raise questions about the future of the lender after its board further delayed a decision on new investors. The stock touched a low of Rs 44 and fell as much as 13 per cent intraday.
At 11.25 am, the bank was trading at Rs 44.60 on the BSE, down 11.8 per cent from its previous close. So far this year, Yes Bank has lost 75 per cent.
Yes Bank said it is considering a $500 million investment offer from London-based Citax Holdings and Citax Investment Group. The private lender also said the $1.20 billion bid by Erwin Braich-SGPG group is still under evaluation and a final decision on the investment will be taken at its next board meeting. The lender did not give a time frame for the next board meeting.
Read Equitypandit’s Nifty Bank Outlook for the Week