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Last Updated : Aug 14, 2019 09:26 PM IST | Source: Moneycontrol.com

Yes Bank raises Rs 1,930cr from QIP at Rs 83.55 per share

The issue price is at a discount of roughly 4.95 percent or around Rs 4.35 per share to the floor price of Rs 87.90 per share, the bank said in a release to the exchange.

 
 
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Yes Bank August 14 closed the qualified institutional placement (QIP) totalling Rs 1,930.4 crore at an issue price of Rs 83.55 per share (including a share premium of Rs 81.55 per share).

The issue price is at a discount of roughly 4.95 percent or around Rs 4.35 per share to the floor price of Rs 87.90 per share, the bank said in a release to the exchange.

The QIP is for the issuance of 231,055,018 equity shares aggregating 9.96 percent of the share capital of the bank, as on August 9, 2019, on a pre-Issue basis.

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The issue size is "not accounting for the allotment of shares on August 10, 2019, pursuant to the exercise of options by the employees, against a limit of 10 percent of pre-issue share capital as approved by the shareholders), to be allotted to eligible qualified institutional buyers pursuant to the Issue," the bank said in the release.

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First Published on Aug 14, 2019 08:50 pm
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