Yes Bank Public Offer Floor Price Fixed At Rs 12, Stock Declines 5%
Private lender Yes Bank on Friday informed the exchanges that the floor price for its Rs 15,000 crore Further Public Offering (FPO) has been fixed at Rs 12 per equity and share and a cap of Rs 13 per share. The decision was taken at the meeting of the Capital Raising Committee (CRC) of Yes Bank, the lender said in a regulatory filing. The Yes Bank FPO will involve bidding in the lots of 1,000 equity shares and a discount of Re 1 will be given to eligible employees of the bank bidding in the Employee Reservation Portion, the filing also said.
The bank's stock reacted negatively to the floor pricing information as it witnessed a sharp dip soon after the announcement. At 1:25 pm, Yes Bank shares were priced at Rs 25.30 apiece, down 5.07 per cent.
On Thursday, the bank's CRC decided that it will raise up to Rs 15,000 crore through the FPO. Shares worth Rs 2,000 crore will be reserved for the bank's employees.
On Wednesday, State Bank of India (SBI) had said that it will further invest Rs 1,760 crore in the public offering.
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