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YES Bank FPO sails through; subscription crosses the mandatory 90% level

The FPO generated bids for 8.5 billion shares, 93% of the 9.1 billion on offer, the data provided by the stock exchanges at 6 pm showed

YES bank
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Some analysts had raised doubts on whether Rs 15,000 crore would be enough as growth capital

Samie Modak Mumbai
The YES Bank follow-on public offering (FPO) has sailed through, with the subscription crossing the mandatory 90 per cent level but the demand fell short of the Rs 15,000-crore mark.

The FPO generated bids for 8.5 billion shares, 93 per cent of the 9.1 billion on offer, the data provided by the stock exchanges at 6 pm showed.

If the FPO is priced at the lower end of the Rs 12-13 band, the lender will be able to mop up Rs 14,270 crore, including the Rs 4,100 crore worth of shares allotted to anchor investors 
on Tuesday.

The bank was aiming to raise Rs

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First Published: Jul 17 2020 | 7:49 PM IST

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