Yes Bank dips as FII investment reaches trigger point
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Yes Bank has dipped nearly 3% at Rs 616 in early morning deals on NSE after the Reserve Bank of India (RBI) on Friday said the foreign investors will need the central bank's approval to buy additional equity in the private sector lender.
RBI said foreign shareholding limit in Yes Bank through FIIs/ Registered Foreign Portfolios Investors (RFPIs)/ NRIs/ Persons of Indian Origin/ Foreign Direct Investment/ American Depository Receipts/Global Depository Receipts has reached the trigger limit.
"Therefore, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the Reserve Bank," RBI said in a release.
The stock opened at Rs 624 and has seen a combined around 200,000 shares changing hands on the counter so far on NSE and BSE.
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