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Yes Bank sets floor price of Rs 12/share for FPO issue

10/07/2020 at 2:20 PM

Mumbai, July 10: Yes Bank’s Capital Raising Committee (CRC) of the Board of Directors on Friday set a floor price of Rs 12 per share for its upcoming further public offering (FPO).

The board has fixed a cap price of Rs 13 per share, the bank said in a regulatory filing.

The bank’s board in its meeting on Friday also approved “a discount of Rs 1.00 per equity share for the eligible employees of the bank bidding in employee reservation portion” and “a minimum bid lot of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter.”

The restructured private bank plans to raise up to Rs 15,000 through the upcoming FPO issue which opens on July 15 and closes on July 17.

On Thursday, Yes Bank said that it has filed a red herring prospectus for its FPO. It has reserved a portion of up to Rs 200 crore for its employees.

The CRC is scheduled to meet on July 14 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.

(IANS)

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