Under the restructuring scheme, the authorised capital shall stand altered to Rs 5,000 crore.
The number of equity shares will stand altered to 24,000 million of Rs 2 each aggregating to Rs 4,800 crore. READ MORE
On March 5, the RBI had imposed a moratorium on YES Bank, restricting withdrawals to Rs 50,000 per depositor till April 3. The central bank had also superseded the board and placed it under an administrator, Prashant Kumar, who is a former deputy managing director and chief financial officer of SBI.
The private sector lender is scheduled to announce its results for the third quarter ended December 2019 (Q3FY20)
on Saturday, March 14. According to Siddharth Purohit, an banking sector analyst at SMC Global, says “Quality of book / accounts; actual deposit base; details on the amount of money needed to meet the capital adequacy norms and get new investors on board; and an honest admission of the troubled assets of the bank are the four key things investors should monitor."
At 01:02 PM, shares of YES Bank
were trading 4.6 per cent higher at Rs 26.20 per share against around 4 per cent rise in the S&P BSE Sensex.