Yes Bank to allot 1.47 Crores Shares at Rs 225 to Orient Global

Yes Bank Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Bank held on December 04, 2007, have approved the proposal to issue and allot upto 1,47,00,000 (One Crore Forty Seven Lacs) Equity shares of Rs 10/- each of the Bank at a price of Rs 225/- per share (inclusive of a premium of Rs 215/- per share) to Orient Global Tamarind Fund Pte Ltd subject to receipt of Regulatory approvals. The members have also authorised the Board of Directors (including a Committee thereof) to take all steps incidental or ancillary in this connection.

The stock closed the day at Rs.249.90, up by Rs.17.15 or 7.37%. The stock hit an intraday high of Rs.255 and low of Rs.225.

The total traded quantity was 393673 compared to 2 week average of 353848.

Source : Equity Bulls

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