YESBANK

Shares Drop 7% Following Block Deals Involving 3% Equity

Shares of

fell sharply by 7.4% to an intraday low of ₹21.55 on the BSE during early trading on Tuesday. The decline followed reports that approximately 3% of the bank's equity changed hands through multiple block deals in the session. This development comes a day after the stock surged nearly 8% amid market speculation of a potential takeover by Japan’s Sumitomo Mitsui Banking Corporation (SMBC), which the bank has since denied. Meanwhile, Yes Bank’s board is scheduled to meet on June 3 to explore fundraising options. The bank is expected to consider various instruments, including equity and debt, as part of its broader growth and recovery strategy.