Shares of private lender Yes Bank gained over 4 percent on Wednesday after the bank said that its board will meet on Friday to consider fundraising.

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The scrip rallied 4.76 percent to touch intraday high of Rs 47.25 per share on the BSE.

In an exchange filing on Tuesday, the bank said that its board meeting will be held on January 10 to consider raising of funds by issue of equity shares or depository receipts or convertible bonds or debentures or warrants or any other equity-linked securities.

In December, the lender had said that it is favorably considering Citax Holdings and Citax Investment Group's $500 million offer.

The board is expected to take a final decision regarding allotment to Citax Holdings and Citax Investment Group.

The bank has also received $1.2 billion binding offer of Erwin Singh Braich/SPGP Holdings that continues to be under the board's consideration.

Earlier CNBC-TV18 reported that some European investors with a large exposure in Russia and Europe were looking to invest up to $1 billion in Yes Bank.

At 10:20 am, shares of Yes Bank gained 2.44 percent to Rs 46.20 on the BSE.