The share price of Yes Bank fell below the further public offering (FPO) price of Rs 12 to slip nearly by 9 per cent on Tuesday.
At 12.33 pm, private lender’s shares traded at Rs 12.25, down by 8.54 per cent on the BSE. Similarly at the NSE it was plunged by 8.54 per cent to Rs 12.25.
During the initial trade, its share price on the BSE declined nearly 10 per cent to Rs 11.10.
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 earnings later in the day.
It is worth noting that Yes Bank’s June quarter result announcement, which is scheduled for later in the day, also kept investors on the edge.
On Monday, reports suggested that American investor Tilden Park’s Bay Tree India, has been allotted 7.48 per cent stake or 187.5 crore shares in the firm.
On July 17, the lender closed its FPO with 95 per cent subscription. The bank received subscriptions for shares worth ₹14,267 crore in the FPO.