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YES Bank jumps 16% amid reports of interest from Mittal, Munjal

BSE has also sought a clarification from YES Bank on the story.

ETMarkets.com|
Updated: Oct 17, 2019, 03.46 PM IST
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AP
YES-Bank---AP-3
The bank has been in troubled waters recently because of exposure to stressed assets. The stock came down to Rs 30 level in September from Rs 404 in August 2018.
NEW DELHI: Shares of YES Bank soared 16 per cent in Thursday's session on reports that industrialists Sunil Mittal and Sunil Munjal have shown interest in acquiring a stake in the private sector lender. However, Mittal later denied the reports.

ET Now on Wednesday reported that Mittal and Mujal have shown their interest, which is at the preliminary stage and if the deal does takes place, Mittal and Munjal would be acquiring the stake in their private capacity, which could be up to five percent. Another five percent may be sold to private equity investors, ET Now reported.

However, a Bharti Enterprises spokesperson denied the reports as reported by Moneycontrol. “Sunil Bharti Mittal has no plans to make any investment in Yes Bank,” the spokesperson said.

BSE has also sought a clarification from YES Bank on the story.

The bank has been in troubled waters recently because of exposure to stressed assets. The stock came down to Rs 30 level in September from Rs 404 in August 2018.

The shares of the lender closed 15.19 per cent higher at Rs 47.40 on BSE .
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