Yes Bank garners Rs 4,098 crore from anchor investors ahead of FPO, Bay Tree invests Rs 2,250 crore

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26 Aug, 2025 12:21

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Private sector lender Yes Bank has garnered Rs 4,098 crore from anchor investors on July 14, a day ahead of its follow-on public offering.

All 12 anchor investors placed their bids for 3,41,53,84,614 equity shares at the lower end of price band of Rs 12-13 per share.

Bay Tree India Holdings I, owned by Tilden Park, was the largest anchor investor, investing Rs 2,250 crore in Yes Bank for an allocation of 1,87,50,00,000 shares.

Yes Bank is aiming to raise Rs 15,000 crore through this issue, the price band for which have been fixed at Rs 12-13 per share, a 53-49 percent discount to its last week's closing price.

It intends to utilise its net proceeds from FPO towards ensuring adequate capital to support its growth and expansion, including enhancing its solvency and capital adequacy ratio.

HDFC Life Insurance Company, Amansa Holdings and Elara India Opportunities Fund were the other three big anchor investors, which invested Rs 400.46 crore, Rs 373 crore and Rs 372 crore, respectively.

Among others, Jupiter India Fund, Jupiter South Asia Investment Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company, Reliance General Insurance Company, RBL Bank, Edelweiss, Hinduja Leyland Finance and ECL Finance acquired more than Rs 700 crore worth of shares in Yes Bank via anchor book.

The issue will close on July 17 and bids can be made for minimum 1,000 shares and in multiples of 1,000 shares thereafter.

Yes Bank has been backed by marquee institutions – SBI, HDFC, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Federal Bank, Bandhan Bank and IDFC First Bank – which have invested Rs 10,000 crore in the bank through a reconstruction scheme in March.

The offer also includes a reservation of up to Rs 200 crore for subscription by its employees.

As of March 31, the bank's CET I ratio stood at 6.3 percent, which was lower than the Reserve Bank's minimum CET I ratio of 7.375 percent.

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 to the issue.