YES Bank re-entered the top 100 most valued companies list in terms of market capitalisation (market-cap). It is because the stock of private sector lenders zoomed 30% in the past three days after the Reserve Bank of India (RBI) agreed to raise capital from funds affiliated with global private equity investors Carlyle and Advent International.
Talking about the shares of YES Bank, it rallied 9% to hit over a two-year high of Rs 23 apiece in Tuesday’s intra-day trade. Moreover, the stock achieved its highest level since July 2020.
At midnight, with a market cap of Rs 57 380 crores, YES Bank stood at 92nd position in the ranking, the BSE data shows. Meanwhile, in the banking sector, the Bank ranks in the 12th position.
Earlier this month, the Bank received two letters as the final go-head for its proposed capital raise plan from the Carlyle Group and Verventa Holdings.
In this regard, the Bank stated that ━“We wish to hereby inform you that the bank is now in receipt of two further letters (separate to each investor) from the RBI in relation to the proposed investment.”
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In accordance with this, the Bank will now engage investors to complete the proposed capital raise, subject to several regulatory compliance and conditions precedent as per respective investment agreements.
