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YES Bank lists over 3 crore shares following Rs 4,907crore QIP

Bank says this QIP will boost the capital adequacy to 20%

Press Trust of India  |  New Delhi 

YES Bank lists over 3 crore shares following Rs 4,907crore QIP

Private sector lender on Wednesday said 3.27 crore shares allotted under the Qualified Institutions Placement (QIP) have been listed and available for trading on the stock exchanges.

The QIP through which the bank raised Rs 4,906.65 crore ($750 million) will boost the capital adequacy to 20 per cent, said in a statement.

It will ensure the bank is well positioned to capitalise on the opportunities provided by the re-invigorated economic environment in India, it said.

The floor price for the QIP offer, made last month, was Rs 1,498.95 a share with option of discount of 5 per cent on discretion.

The bank, which last raised capital in 2014 using the QIP route with a $500 million issue, had to cancel a $1 billion issue last September citing "extreme market volatility".

Media reports had said the markets regulator Sebi had found that had violated norms governing listing obligations and disclosure rules (LODR) relating to misrepresentation of facts and adequate disclosure before it proceeded with the QIP.

First Published: Wed, April 05 2017. 18:10 IST
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