Yes Bank IPO sold in 5 min

Issue subscribed 5.5 times.

Within five minutes of its opening, Yes Bank's initial public offering (IPO) was over-subscribed on Wednesday.

By 10:30 am (that is half-an-hour after it opened for subscription), the issue "" offering 70 million shares "" was subscribed 5.5 times.

Bidding by qualified institutional buyers (QIBs) was 11 times the portion kept for them (50 per cent of the issue). The QIB bids were made at Rs 45 "" the upper end of the band.

The greenfield bank's IPO "" priced at a band of Rs 38-Rs 45 "" is being sold through the book-built route.

The issue has been subscribed 8.27 times and the QIB portion has been subscribed well over 15 times according to data available.