Left Menu
Development News Edition

Yes Bank garners Rs 4,500 cr from anchor investors ahead of FPO

The company has fixed the price band at Rs 12-13 per equity share for its follow-on public offer (FPO) which will be open for  subscription from July 15-17. Yes Bank is aiming to raise Rs 15,000 crore through the issue to ensure adequate capital to support its growth and expansion, including enhancing its solvency, capital adequacy ratio, and evolving regulatory requirement.

PTI | New Delhi | Updated: 14-07-2020 19:00 IST | Created: 14-07-2020 19:00 IST
Yes Bank garners Rs 4,500 cr from anchor investors ahead of FPO

Private sector lender Yes Bank on Tuesday raised Rs 4,500 crore from anchor investors ahead of its follow-on public offer that opens on Wednesday, investment banking sources said. The company has fixed the price band at Rs 12-13 per equity share for its follow-on public offer (FPO) which will be open for  subscription from July 15-17.

Yes Bank is aiming to raise Rs 15,000 crore through the issue to ensure adequate capital to support its growth and expansion, including enhancing its solvency, capital adequacy ratio, and evolving regulatory requirement. According to investment banking sources, several investors including FPIs have been allocated shares at Rs 12 per share in the anchor portion.

These investors include US-based alternative asset manager Tilden Park Capital Management LP, Singapore-based fund management company Amansa Capital and UK-based fund management firm Jupiter Fund, they said. Tilden Park, a multi-strategy fixed-income-focused alternative asset manager with expertise in distressed credit, has entered the Indian market by participating in Yes Bank's anchor book. It has invested over Rs 2,700 crore in the lender.

The other investors who have received allotment in the anchor book are Elara Capital, RBL Bank, Hinduja Group's Leyland Finance, HDFC Life Insurance Company and ICICI Prudential Mutual Fund, the sources said. Kotak Mahindra Capital Company, SBI Capital Markets, Axis Capital, Citigroup Global Markets India Private Limited, DSP Merrill Lynch, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities and YES Securities (India) Limited are the merchant bankers of the issue.


TRENDING

OPINION / BLOG / INTERVIEW

5G will be the key driving force for COVID-19 recovery: Here's how?

... ...

Canada’s COVID-19 pitfalls highlight need for integrated health information system

In the globalized world of today where outbreaks can spread far and wide within a matter of days, a global-level integrated health information system is ideal but Canadas provincial barriers show that the country lags much behind in deployi...

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

Videos

Latest News

Report: Packers sign NT Clark to $70M extension

The Green Bay Packers are set to make Kenny Clark the highest-paid nose tackle ever. Clark, who was set to begin the final year of his rookie contract, will receive 70 million over four years, according to Ian Rapoport and Tom Pelissero of ...

Biden promises to reform H-1B visa system, eliminate country quota for Green Cards

If voted to power in the November general elections, a Biden administration will reform the H-1B visa system and work towards eliminating the country-quota system for Green Cards, his campaign said on Saturday, in a move to woo the influent...

Rescue workers pull out bus from waterlogged Surat street

Rescue workers pulled out a bus from severely waterlogged streets in Surat on Saturday after heavy monsoon rains poured in the area.Visuals from the area showed the workers pulling out the bus using ropes while navigating through knee-deep ...

Mumbai man with rare condition undergoes robot-assisted surgery

A 50-year-old man from Mumbai, who suffered from a rare condition in which the stomach bulges into the chest through an opening in the diaphragm, underwent a life-saving robot-assisted surgery at a hospital here, doctors said. The reason fo...

Give Feedback