Yes Bank share price jumps 5% as Rs 15,000 crore FPO to open on July 15
Published On: Thursday, July 9, 2020 | By: Team KnowMyStock
Shares of YES Bank rose as much as 5.36 per cent to Rs 27.50 on the BSE on Thursday after the bank said it has filed paper for its proposed follow-on public offer, through which the lender is aiming to raise Rs 15,000 crore. The FPO issue will be open from July 15 to July 17 and bidding by anchor investors will be held on July 14, the three-day offer, which includes an employee reservation portion of up to Rs 200 crore. The bank has filed a red herring prospectus dated July 7, 2020 (RHP), in connection with the offer, with the Registrar of Companies, Maharashtra at Mumbai," YES Bank said in a regulatory filing.SBI told the exchanges on July 8 that it will invest up to Rs 1,760 crore in Yes Bank's follow-on public offer.
"Pursuant to the intimation given by Yes Bank Ltd to the stock exchanges on 07th July, 2020 on the issue of raising capital the executive committee of central board (ECCB) of State Bank of India at its meeting held on 08 July, 2020 has accorded approval for a maximum investment of upto Rs 1,760 in the Further Public Offering (FPO) of Yes Bank Ltd," SBI said.
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