SBI approves purchase of 725cr shares of Yes Bank

Published On: Thursday, March 12, 2020 | By: Team KnowMyStock

SBI Executive Committee of Central Board (ECCB) has approved the purchase of 725cr shares in Yes Bank at Rs10/share. SBI's shareholding in Yes Bank will remain within 49% of the paid-up capital of Yes Bank. According to the draft reconstruction plan, SBI was to be issued 245 crore shares at Rs 10 per share for Rs 2,450 crore Yes Bank Ltd ended at Rs25.05, down by Rs3.75 or 13.02% from its previous closing of Rs28.80 on the BSE. The scrip opened at Rs28.70 and touched a high and low of Rs28.70.State Bank of India ended at Rs212.50, down by Rs32.45 or 13.23% from its previous closing of Rs245.10 on the BSE. The scrip opened at Rs231.90 and touched a high and low of Rs231.90.

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MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

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