The follow on public offer (FPO) of private sector lender Yes Bank, with a backing of State Bank of India, is likely to open on July 8 and close on July 10, as per sources privy to the development. The subscription for anchor investors would open a day before on July 7 and close on the same day.
The fund raising exercise is important for the bank to augment its capital adequacy. Though, so far the bank has not decided the amount it wishes to raise, it has the necessary approvals to garner up to Rs. 15000 crore.
And if it goes for the entire amount for which it has been given the approval, anchor investors may invest up to Rs. 4500 crore.
On Wednesday, the share price of Yes Bank ended 5.27% higher at Rs. 26.95 shares apiece on the BSE.
SBI became the largest stakeholder in Yes Bank with a holding of 48.21% equity in April as part of the RBI-administered takeover of the beleaguered lender.