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    YES Bank jumps 4% as lender repays Rs 35,000 crore to RBI

    Synopsis

    The bank recently raised equity funding of Rs 15,000 crore through follow-on public offering (FPO).

    YES Bank 1 - ReutersReuters
    The stock rose 4.4 per cent to hit a high of Rs 15.69, in addition to 4.88 per cent gain in the previous session.
    NEW DELHI: Shares of YES Bank gained over 4 per cent in Wednesday's trade after the private lender said it has repaid Rs 35,000 crore to the RBI out of the total special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support.

    The stock rose 4.4 per cent to hit a high of Rs 15.69 on the BSE, in addition to 4.88 per cent gain in the previous session.

    In its FY20 annual report, YES Bank’s Chairman Sunil Mehta said: " In addition to the Special Liquidity Facility (SLF) of Rs 50,000 crore extended by RBI, the bank has since then received strong customer liquidity inflows. I am pleased to report that the bank has, as of date repaid Rs 35,000 crore of SLF and the balance will be repaid within the timelines set by RBI," he said.

    The bank recently raised equity funding of Rs 15,000 crore through follow-on public offering (FPO).

    In another development, the bank divested more than 8 per cent stake worth over Rs 75 crore in CG Power and Industrial Solutions through open market transactions.

    The lender offloaded 5.18 crore shares worth over Rs 75 crore through the BSE and the NSE, as per bulk deal data. The quantum of shares amount to 8.28 per cent shareholding in the company.

    YES Bank had more than 8 crore shares or 12.79 per cent stake in CG Power at the end of June 2020.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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