Yes Bank shares climb nearly 6 pc in early trade

NEW DELHI: Shares of Yes Bank climbed nearly 6 percent in Monday morning trade after the announcement that private equity funds Carlyle and Advent International will invest USD 1.115 billion in the lender.

The stock jumped 5.75 percent to Rs 15.80 on the BSE. On the NSE, it advanced 5.68 percent to Rs 15.80 apiece.

After trials and tribulations on fundraising that lasted well over three years, Yes Bank on Friday announced that Carlyle and Advent International will be investing USD 1.115 billion (around Rs 8,900 crore).

Both the global PE funds will be acquiring a 10 percent stake each in the private sector lender, which had to be bailed out in an RBI and government-led reconstruction scheme for want of capital buffers and after the then management failed to sell the bank's story to investors.