Yes Bank shares plunge below FPO price

Mumbai, July 28 (IANS) The slump in Yes Bank’s shares continued on Tuesday with its stock price falling below the further public offering (FPO) price of Rs 12.

During the initial trade, its share price on the BSE declined nearly 10 per cent to Rs 11.10.

It has, however, recovered somewhat and around 11.05 a.m., it was trading at Rs 11.40 lower by 7.32 per cent from its previous close.

The bank recently raised Rs 15,000 crore through an FPO with a floor price of Rs 12 per share. Since then, Yes Bank shares have been on a downward trend.

The bank is scheduled to announce its first quarter earning later in the day.

–IANS

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