Yes Bank rises 3% on foreign investment plan okay - NDTV

Reuters | Updated On: June 28, 2013 15:04 (IST) Shares in Yes Bank gained as much as 3 per cent after the government approved the bank's proposal to increase foreign equity participation up to 60 per cent of the total shares through a qualified institutional placement (QIP). At 3 pm the Yes Bank stock was trading 2.85 per cent up on the NSE, while the bank Nifty was up 3.31 per cent. The Cabinet Committee on Economic Affairs (CCEA), which is part of the Finance Ministry, approved the increase after a request earlier this year from the Foreign Investment Promotion Board (FIPB). Yes bank plans to raise Rs 2,650 crore through QIP from overseas. Copyright: Thomson Reuters 2013 For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNF0Zl2TD_2rNfeIYNABuLEMdA2UZQ&url=http://profit.ndtv.com/news/market/article-yes-bank-rises-3-on-foreign-investment-plan-okay-323839

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