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.
