NEW DELHI: Shares of YES Bank jumped nearly 6 per cent in Thursdays session after the bank received a non-binding expression of interest (EoI) from JC Flowers - Co, Tilden Park Capital Management, OHA (UK) and Silver Point Capital.The stock shrugged off a downgrade of its long-term issuer rating on certain debt instruments by India Ratings.The stock jumped 5.68 per cent to hit a high of Rs 37.20 on BSE.YES Bank is currently in discussions with investors on the commercial terms, including pricing, of their investments.Independent market expert Sandip Sabharwal in a tweet said, "The quality of investors who have shown interest in YES Bank is significantly better than the last time and the RBI I guess should have no issues." Finally, a stock bottom could be around the corner, he added.
The bank said it will publish its financial results for the December quarter on or before March 14.Given that the current capital raising process has the bank's fullest attention, it would like to inform the exchanges that it will publish its unaudited financial results for the quarter and nine-month period ending December 31, 2019 on or before March 14, 2020, YES Bank said.Last week, shareholders of YES Bank had approved raising the private-sector lenders authorised capital to Rs 1,100 crore at an extraordinary general meeting held in Mumbai.
A special resolution to allow capital raising through issuance of equity shares or other convertible securities of Rs 10,000 crore was also passed.Earlier, the lender had picked Cantor Fitzgerald, led by former Deutsche Bank global co-CEO Anshu Jain, and local investment banks IDFC Securities and Ambit Capital to raise funds that would help the lender expand its loan book.