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Yes Bank opens QIP issue; floor price fixed at Rs 87.90 per share

Press Trust of India  |  New Delhi 

Yes Bank on Thursday announced opening of the qualified institutional placement (QIP) issue at a floor price of Rs 87.9 per equity share.

The capital raising committee of the bank's board of directors on Thursday authorised the opening of the issue, Yes Bank said in a regulatory filing.

The committee "approved the floor price for the issue being Rs 87.90 per equity share, based on the pricing formula...and the committee may, at its discretion, offer a discount of not more than 5 per cent on the floor price", the bank said.

The QIP is part of Yes Bank's USD 1 billion (over Rs 7,000 crore) fundraising plan, which among others employs other instruments such as preferential issue, global depositary receipt/American depositary receipt, foreign currency convertible bonds or any other methods on a private placement basis.

Shares of Yes Bank closed 2.65 per cent higher at Rs 89.15 apiece on the BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 08 2019. 19:35 IST
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