Stocks

Yes Bank tumbles 10% as FPO shares list

PTI New Delhi | Updated on July 27, 2020 Published on July 27, 2020

Yes Bank on Monday tumbled nearly 10 per cent to its lowest trading permissible limit for the day after its follow-on public offer shares got listed.

The stock plunged 9.89 per cent to ₹12.30 -- its lower circuit limit -- on the BSE.

At the NSE, it tanked 9.89 per cent to its lowest trading permissible limit for the day of ₹12.30.

 

“12,50,44,33,750 equity shares of ₹2 each fully paid up securities of Yes Bank Limited are listed and admitted for trading on the Exchange with effect from Monday, July 27, 2020. These shares rank pari-passu with the existing equity shares of the company,” according to a BSE notice issued on Friday.

Yes Bank’s follow-on public offer to raise ₹15,000 crore was subscribed 93 per cent on the final day of bidding.

The Follow-On Public Offer (FPO) subscription was 95 per cent after including the anchor investors’ portion.

An issue is considered successful if it receives a minimum subscription of 90 per cent of its total size.

Yes Bank had fixed a price band of ₹12-13 per share for the FPO, which opened for subscription on July 15.

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Published on July 27, 2020
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