YES Bank’s Rs 15,000 crore FPO subscribed 22% on day 1

Mumbai: Private lender YES Bank’s follow-on public offer (FPO) to raise up to Rs 15,000 crore was subscribed 22 per cent at the end of first day of the bidding process, data from NSE showed on Wednesday.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 55 per cent, while that for non-institutional and retail investors was subscribed 4 per cent and 9 per cent, respectively.

The issue will close on Friday and has a price band of Rs 12-13 per equity share of face value of Rs 2 each.

On Tuesday, the bank raised nearly Rs 4,100 crore through anchor allotments ahead of its follow-on public offer’s opening. It allotted 3,41,53,84,614 equity shares to a total of 14 anchor investors. More than half of the anchor book was subscribed by Bay Tree India Holdings.

Other investors include HDFC Life Insurance Co, Amansa Holdings, Jupiter India Fund, Jupiter South Asia Access Fund, Bajaj Allianz Life Insurance Co, ICICI Lombard General Insurance Co, RBL Bank, Reliance General Insurance Co, Edelweiss Crossover Opportunities Funds, Elara India Opportunities Fund, Hinduja Leyland Finance and ECL Finance.

Kotak Mahindra Capital Company, SBI Capital Markets, Axis Capital, Citigroup Global Markets India, DSP Merrill Lynch, HSBC Securities and Capital Markets (India), ICICI Securities and YES Securities (India) are the book running lead managers appointed to the issue .

Earlier this month, state-run State Bank of India, which is the biggest shareholder in YES Bank, providing further support said its executive committee of the central board has given approval for a maximum investment of up to Rs 1,760 crore in the FPO.