Private sector lender Yes Bank on Friday said it had set a floor price of ₹12 per share to raise up to ₹15,000 crore through a follow-on public offer (FPO), which opens on July 15.
The capital raising committee (CRC) of the bank’s board, at its meeting, “has approved floor price of ₹12 per equity share”, Yes Bank said in a BSE filing.
The cap price for the FPO is ₹13 per unit. It has also fixed “a minimum bid lot of 1,000 equity shares and in multiples of 1,000 equity shares thereafter.”
The lender has announced a discount of ₹1 per equity share for eligible employees of the bank bidding for the portion reserved for staff. The bank said a meeting of the CRC is scheduled for July 14, 2020 for the allocation of equity shares to successful anchor investors pursuant to the offer and to determine the allocation price for them.