Shares of Yes Bank shot up by over 5% in morning trade after reports that co-founder Rana Kapoor is planning to sell part of his stake in the bank to a fintech firm.
Reports suggested that the two parties are in advanced talks regarding the transaction, the fintech firm being One97 Communications, parent company of Paytm, citing Rana Kapoor's interview with Reuters.
However, Yes Bank has called these reports as speculative in nature.
The bank in a filing on Wednesday morning said, "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/regulatory requirements, subject to compliance with prescribed procedures and receipt of statutory/regulatory approvals."
Yes Bank Ltd is currently trading at Rs66.80 up by Rs3.7 or 5.86% from its previous closing of Rs63.10 on the BSE.
The scrip opened at Rs66.15 and has touched a high and low of Rs68 and Rs65.40 respectively. So far 6,28,63,037 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs16,092.46cr.
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