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Last Updated : Jun 16, 2020 05:33 PM IST | Source: CNBC Awaaz

Yes Bank plans to raise Rs 12,000-15,000 crore via FPO issue soon

Sources said the FPO plan is likely to be finalised by the board soon.

 
 
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By Yatin Mota

Yes Bank is considering a follow on public offer (FPO) to raise funds via equity.

Sources told CNBC Awaaz the FPO plan is likely to be finalised by the board soon.

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One of the sources quoted above told CNBC Awaaz that the FPO size is likely to be in the Rs 12,000-15,000 crore range and the offer price band is likely to be in the Rs 12-15 per share.

The source also said keeping the current market condition in mind, the price band needs to be kept attractive.

The board also considered raising funds via a rights issue but shareholder banks, including SBI, were not in favour of the same and hence the FPO route is most likely to be chosen to initate a fund raise.

It is to be noted that shareholders approval has already been obtained for an aggregate capital raise of up to Rs 15,000 crore via equity route.

Yes Bank did not respond to queries sent by CNBC Awaaz.

The Yes Bank scrip closed at Rs 28.40, down Rs 0.65, or 2.24 percent on the BSE.
First Published on Jun 16, 2020 05:16 pm

tags #Yes Bank

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