 "YES Bank nears record high on QIP plans")
YES Bank was up nearly 2% at Rs 1,544.75 on the National Stock Exchange (NSE), after the private sector lender announced that its qualified institutional placement (QIP) offer has opened on Thursday. The stock is trading close to its record high of Rs 1,545.45 touched on March 16, 2017.
The floor price, as per the formula of capital market regulator Securities Exchange Board of India (SEBI) has been fixed at Rs 1,498.95 per share. “The bank may at its discretion offer a discount of 5% on the floor price of QIP,” YES Bank said in the filing.
The bank’s board had passed resolutions in April and October last year allowing the bank to raise $1 billion equivalent (including premium) in rupee of capital through QIP. However, this time the bank is trying to raise a total of $750 million equivalent ($650 million in base price and $100 million through greenshoe option). CLICK HERE TO READ FULL STORY
Thus far in calendar year 2017, the stock has outperformed the market by surging 34% as compared to 10% rise in the Nifty 50 index.
At 09:39 am; the stock was up 0.79% at Rs 1,531 on the NSE. A combined 928,134 shares changed hands on the counter on NSE and BSE so far.
The floor price, as per the formula of capital market regulator Securities Exchange Board of India (SEBI) has been fixed at Rs 1,498.95 per share. “The bank may at its discretion offer a discount of 5% on the floor price of QIP,” YES Bank said in the filing.
The bank’s board had passed resolutions in April and October last year allowing the bank to raise $1 billion equivalent (including premium) in rupee of capital through QIP. However, this time the bank is trying to raise a total of $750 million equivalent ($650 million in base price and $100 million through greenshoe option). CLICK HERE TO READ FULL STORY
Thus far in calendar year 2017, the stock has outperformed the market by surging 34% as compared to 10% rise in the Nifty 50 index.
At 09:39 am; the stock was up 0.79% at Rs 1,531 on the NSE. A combined 928,134 shares changed hands on the counter on NSE and BSE so far.
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