This article is more than 1 year old.

Yes Bank fixes FPO price band at Rs 12-13 per share

Mini

Yes Bank has fixed the price band of its further public offer (FPO) at Rs 12-13 per share, a discount of around 50 percent to the current market price.

Yes Bank fixes FPO price band at Rs 12-13 per share
Yes Bank has fixed the price band of its further public offer (FPO) at Rs 12-13 per share, a discount of around 50 percent to the current market price.
The Capital Raising Committee of the Board of Directors of the Bank (CRC), at its meeting held earlier today approved the Floor Price for the Rs 15,000 crore FPO at Rs 12 per equity share with a cap price of Rs 13 per share.
A discount of Rs 1 per equity share will be given for the eligible employees of the bank bidding in Employee Reservation Portion. The committee also apporved a minimum bid lot of 1,000 Equity Shares and in the multiples of 1,000 Equity Shares thereafter, the bank said in a regulatory filing.
The offer comes as part of the lender's plans to raise up to Rs 15,000 crore by way of fresh issue of equity shares.
The bank had filed a red herring prospectus dated  July  7,  2020  (RHP),  in connection with the offer with the  Registrar of Companies, Maharashtra at Mumbai.
The three-day offer, which includes an employee reservation portion of up to Rs 200 crore will commence on Wednesday with anchor investor bidding date set on July 14.
The country's largest lender State Bank of India (SBI) has approved a maximum investment of up to Rs 1,760 crore in YES Bank's upcoming FPO.
Meanwhile, Tilden Park and LIC have also received RBI's approval to invest 9.9 percent in private lender Yes Bank, banking sources informed CNBCTV-18.
Yes Bank further said that a meeting of the CRC is scheduled to be held on July 14, 2020 for the purposes of allocation of Equity Shares to the successful Anchor Investors pursuant to the Offer and for determination of the Anchor Investor Allocation Price.
At 12:12 pm, shares of Yes Bank were trading 4.69 percent lower at Rs 25.40 on the BSE.
next story

Market Movers

Currency

CompanyPriceChng%Chng