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Yes Bank raises Rs 1,930 cr via QIP

Press Trust of India  |  New Delhi 

Yes Bank on Wednesday said it has raised Rs 1,930.46 crore through qualified institutional placement (QIP) to fund its business expansion.

The QIP opened on August 9 and closed on Wednesday, the bank said in a regulatory filing.

With respect to the issue, it said the bank approved the issue price of Rs 83.55, including a share premium of Rs 81.55 per share which is at a discount of 4.95 per cent to the floor price of Rs 87.90 per equity.

The bank offered 23.10 crore shares aggregating to 9.96 per cent of the share capital as against a limit of 10 per cent of pre-issue share capital as approved by the shareholders, it said.

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

First Published: Wed, August 14 2019. 21:15 IST