Money & Banking

YES Bank FPO to open on July 15

Our Bureau. Mumbai | Updated on July 09, 2020 Published on July 09, 2020

 

Private sector lender YES Bank follow on public offer will open on July 15 and close on July 17.

It plans to raise as much as ₹15,000 crore, by way of a fresh issue of equity shares, including an employee reservation portion of up to ₹200 crore.

“The bank has filed a red herring prospectus dated July 7, 2020, in connection with the Offer, with the Registrar of Companies, Maharashtra at Mumbai,” it said in a regulatory filing on Thursday.

Anchor investors can bid on July 14.

The capital raising committee (CRC) of the bank’s board will meet on July 10 to approve the price band and discount amongst other issues

Earlier this week, the CRC has approved the proposal to raise funds through the FPO.

State Bank of India, which holds 48.21 per cent stake in YES Bank, may invest up to ₹1,760 crore in the offering.

YES Bank scrip closed 2.11 per cent higher at ₹ 26.65 apiece on BSE.

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Published on July 09, 2020
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