Yes Bank launches up to $750 million share sale - term sheet

MUMBAI (Reuters) - Yes Bank Ltd, India's fifth-biggest private sector lender by assets, has launched a share sale to institutions to raise as much as $750 million, according to a deal term sheet seen by Reuters.

The base size of the sale of new shares is $650 million and the bank has an option to increase it to $750 million, the term sheet showed.

The shares are being sold in a price range of 1455 rupees to 1500 rupees. The price range reflects a discount of 1.22 percent to 4.19 percent to the stock's Thursday closing price of 1,518.60 rupees on the National Stock Exchange.

 

Last September the lender shelved an up to $1 billion share sale a day after launching the deal.

Bank of America Merrill Lynch, CLSA, IIFL, Motilal Oswal are managing the latest share sale.

(Reporting by S. Anuradha, Devidutta Tripathy and Savio Shetty; editing by David Clarke)