Yes Bank share price dips 9% as board approves FPO price band

Published On: Friday, July 10, 2020 | By: Team KnowMyStock

Yes Bank share price declined 9 per cent to close at Rs 244.3 on July 10 after the board of directors of the bank at its meeting held earlier today i.e., July 10, 2020, has approved the floor price of its ₹15,000 crore FPO or follow-on public offer at ₹12 per equity share and a cap of ₹13 per equity which opens on July 15 and closes on July 17, 2020. Employees of Yes Bank, have a Rs 200 portion reserved for them in the FPO, a discount of ₹1.00 per equity share will be given to the eligible employees of the bank bidding in employee reservation portion. The minimum bid lot is of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter. State Bank of India will invest close to Rs 1,700 crore. A meeting of the CRC will be be held on July 14 for the allocation of equity shares to successful anchor investors pursuant to the offer and for determination of the anchor investor allocation price.

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