For its planned public follow-up (FPO), YES Bank has set the floor price of ₹12 per share at a limit price of ₹13 per operation. Yes Bank today told the financial markets that, in its meeting held earlier this day i.e. on July 10, 2020, the Bank’s board of directors’ capital raising committee accepted its 15,000 crore FPO price or a ₹12 public bid per stock, or a maximum of ₹13 per share. The qualified bank bidding workers in the employee reservation section would have a discount of ₹1.00 per vote. The decision was made at the conference of the Capital Raising Committee (CRC) of the board of directors on Friday.
Shares can be bided in lots of 1,000 shareholdings in the Yes Bank FPO. Yes Bank had previously said that it would launch its 15,000 crore FPO on July 15, 2020 and close on July 17, 2020.
Yes Bank obtained permission earlier this week from its Board of Directors’ Capital Raising Committee (CRC) to collect funds via the sale. The FPO ‘s bid size is €15,000, with an employee reservation section up to € 200,000, as part of a new equity problem, Yes Bank stated.
A CRC meeting will take place on 14 July 2020, in order to encourage shareholders to prosper, and to decide the allocation price for anchor investors, Yes Bank added.
According to an SBI announcement on Wednesday, the executive committee of the SBI central board authorised the overall expenditure of up to €1.760 crore.
A restructuring package for Yes Bank was accepted by the government on 13 March. The plan included Yes Bank ‘s approximately 10.000 crore, of which €6,050 SBI had been received, by eight financial institutions.
