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MUMBAI: The initial public offering (IPO) of Yes Bank was subscribed 8.27 times on the first day, according to the NSE Web site.

Cumulative bids were received for a total of 57.86 crore shares against the issue size of seven crore shares. A total of 68.34 lakh bids were received at the cut-off price.

The price band for the 100 per cent book-built issue is between Rs 38 and Rs 45 and the IPO closes on June 21.

DSP Merill Lynch and Enam Financial Consultants are the book-running lead managers to the issue.

(This article was published in the Business Line print edition dated June 16, 2005)
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