Categories: Business

Yes Bank fixed base rate for FPO at Rs 12 per share, bid for minimum 1000 shares

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Yes Bank sets floor price of Rs 12 / share for FPO; minimum bid lot 1,000 shares

new Delhi. Private sector Yes Bank on Friday said it has fixed the base rate at Rs 12 per share for the follow-on public issue (FPO), which opens on July 15. The bank plans to raise up to Rs 15,000 crore through FPO.

The bank told BSE that the capital raising committee of the board of directors approved the base rate of Rs 12 per share in a meeting. The maximum rate for FPOs will be Rs 13 per share. The committee has also decided that the bidders will be able to bid for a minimum of one thousand shares. After this it can increase to a multiplier of thousand.

The bank also announced a special rebate of Re 1 per share for eligible employees. Yes Bank's FPO will open on 15 July and will close on 17 July. Earlier this week, Yes Bank received approval to raise funds through an offer from the Capital Raising Committee (CRC) of its board of directors.

Yes Bank filed a Red Herring Prospectus (RRP) on July 7, 2020 with the Registrar of Companies in Maharashtra. Earlier, State Bank of India (SBI) said in a statement that the Executive Committee of its Central Board has approved investment in Yes Bank's FPO up to a maximum of Rs 1,760 crore.

This post was published on July 10, 2020 3:16 pm

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