Mumbai, May 30 : Shares of Yes Bank rose by nearly 4 per cent today following reports that it has raised USD 500 million through an institutional placement of shares for funding its expansion. The stock of the private sector bank rose by 3.56 per cent to settle at Rs 569.45 on the BSE. In intra-day trade, it had gained 4.79 per cent to Rs 576.25 .

On the NSE, the scrip surged 3.62 per cent to close the day at Rs 568. In terms of volume, 8.48 lakh shares were traded at the BSE, while over 91 lakh shares changed hands at the NSE during the day. The global Qualified Institutional Placement of shares received a response of USD 2.5 billion, getting oversubscribed by five times the offer size, the bank said in a statement after the market hours.

Investors from USA and Europe accounted for 40 per cent of the USD 2.5 billion in subscriptions, while Asia and domestic investors were at an equal 30 per cent, they added. It said the issue of 5.35 crore shares was priced at Rs 550 apiece.