Yes Bank Gains 2% After Taking Minority Stake In RXIL

Mumbai: Shares of Yes Bank rose over 2 per cent in early trade on Friday after the bank said it has acquired an 8 per cent stake in Receivables Exchange of India (RXIL).

The stock gained 2.1 per cent to Rs 1,062.20 on BSE. On NSE, it jumped 2.14 per cent to Rs 1,062.40.

"Yes Bank has executed a share subscription and shareholders' agreement agreeing to subscribe for 20,00,000 equity shares of RXIL," it said in a BSE filing yesterday.

The bank said the subscription is equivalent to 8 per cent of the post-issue paid-up capital of RXIL.

RXIL is a joint venture company set up by NSE Strategic Investment Corporation and Small Industries Development Bank of India (SIDBI).

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