Yes Bank locked in lower circuit as FPO shares debut on exchanges

There were pending sell orders of 41,640,911 shares, with no buyers available.

July 27, 2020 / 09:41 AM IST
 
 
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Yes Bank share price was locked in 10 percent lower circuit on July 27 after the company's shares allotted in the follow-on public offer (FPO) got listed on the bourses.

The private sector lender raised Rs 14,272 crore through the FPO, which was subscribed 95 percent. The issue opened on July 15 and closed two days later.

The issue size was Rs 15,000 crore, so the balance amount would be contributed by the issue underwriter SBI Capital Markets. In the issue prospectus, SBI Capital Markets had committed to underwriting an amount of up to Rs 3,000 crore.

The final issue price has been fixed at Rs 12 per share, the lower end of the price band of Rs 12-13. Employees received shares at Re 1 discount to issue price.

Yes Bank share price has corrected consistently since July 10, losing 48.8 percent to close at Rs 13.65 on July 24. It shed 55 percent after the announcement of FPO price band on July 10.

Close

There were pending sell orders of 41,640,911 shares, with no buyers available.

At 0920 hours, Yes Bank was quoting at Rs 12.30, down Rs 1.35, or 9.89 percent, on the BSE.
Moneycontrol News
first published: Jul 27, 2020 09:41 am

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