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Friday, October 30, 2020
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YES Bank soars 58% despite share lock-in

Shares of YES Bank jumped 58 per cent in Monday’s trade after the crisis-hit bank allotted 1,000 crore equity shares to seven private banks and the state-run State Bank of India for a total consideration of Rs 10,000 crore.

A steep rise in the scrip price, however, surprised analysts who were expecting the stock to fall on Monday after the government imposed a three-year lock-in for investors holding 100 shares or more for 75 per cent of their total investment.

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