Yes bank stock

The stock jumped over 2 percent after the country’s largest lender State Bank of India (SBI) said it will invest Rs 1,760 crore in the private lender.

SBI told the exchanges on July 8 that it will invest up to Rs 1,760 crore in Yes Bank’s follow-on public offer (FPO). The bank has filed a red herring prospectus (RHP) with the Registrar of Companies in Mumbai for an FPO up to Rs 15,000 crore by way of a fresh issue of equity shares, including an employee reservation portion of up to Rs 200 crore. Tilden Park and LIC have received the RBI nod to invest 9.9 percent in the bank.

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