India: Yes Bank defers $1b share sale after stock plunges

Yes Bank Ltd on Thursday deferred its proposed $1 billion (Rs.6,642 crore) institutional private placement after its stock declined more than 5% following the fund-raising announcement.

The Mumbai-based lender cited “extreme volatility and misinterpretation of new QIP (qualified institutional placement) guidelines” for the delay, in a stock exchange filing.

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