Yes Bank locked in lower circuit as FPO shares debut on exchanges

Yes Bank locked in lower circuit as FPO shares debut on exchanges

Yes Bank share price locked 10% lower circuit on July 27 after the company shares allotted in the follow-on public offer (FPO) were listed on the bores.

The private sector lender raised Rs 14,272 crore through its 95 percent FPO. The issue began on July 15 and closed two days later.

The issue size is Rs 15,000 crore, so the rest will be provided by Underwriter SBI Capital Markets. In the issue prospectus, SBI Capital Markets has pledged up to Rs 3,000 crore.

The final issue price is set at Rs 12 per share, while the lower end of the price band is Rs 12-13. Employees received shares with a $ 1 discount to issue the price.

Yes Bank’s share price has been stable since July 10, losing 48.8 percent to Rs 13.65 on July 24. It fell 55 percent after the FPO price band was announced on July 10.

Orders for sale of 41,640,911 shares are pending and are not available to buyers.

At 0920 hours, Yes Bank was quoting at Rs 12.30, down Rs 1.35, or 9.89 percent, on the BSE.

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