Money & Banking

YES Bank sets floor price of ₹12 per share for FPO

Our Bureau Mumbai | Updated on July 10, 2020 Published on July 10, 2020

YES Bank has set a floor price of ₹12 per share for its planned follow-on public offer (FPO) with a cap price of ₹13 per share.

The decision was taken at the meeting of the Capital Raising Committee (CRC) of its board of directors on Friday.

This will be a significant discount from Thursday’s closing price of ₹26.65 apiece on the BSE. The bank’s scrip was down 5.44 per cent in intraday trade on the BSE.

In a regulatory filing, YES Bank said a discount of ₹1 per equity share will be offered to eligible employees bidding in the Employee Reservation Portion.

The CRC also approved the proposal for a minimum bid lot of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter.

“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,” it said.

YES Bank’s FPO 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.

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Published on July 10, 2020
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