The FPO issue will open from July 15 to July 17 and bidding by anchor investors will be held on July 14.
Shares of Yes Bank was trading 0.77 per cent higher at Rs 26.30 at 1.26 pm. (Photo: IANS)
Private sector lender Yes Bank on Thursday said it has filed a red herring prospectus to raise up to Rs 15,000 crore through issuance of fresh equity shares in its further public offering (FPO). The FPO issue will open from July 15 to July 17 and bidding by anchor investors will be held on July 14.
FPO is the second round of public issue of shares by an already existing or listed public company. And red herring prospectus stands is a prospectus which does not have details of either price or number of shares being offered.
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Earlier this week Yes Bank had received approval from the capital-raising committee (CRC) of its board of directors to raise funds through the offering.
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The bank in a regulatory filing said, it “has filed a red herring prospectus dated July 7, 2020 (RHP), in connection with the offer, with the Registrar of Companies, Maharashtra at Mumbai.”
Yes bank said the offer size of the FPO is Rs 15,000 crore, by way of a fresh issue of equity shares, including an employee reservation portion of up to Rs 200 crore.
Shares of Yes Bank was trading 0.77 per cent higher at Rs 26.30 at 1.26 pm, after hitting day’s high of Rs 27.50 on the BSE.
In another update, country’s largest lender State Bank of India on Wednesday said its board has approved a maximum investment of up to Rs 1,760 crore in the FPO of Yes Bank.
The announcement comes after on Tuesday the Capital Raising Committee of the Board of Directors of the Bank (CRC) gave its nod to the resurrected bank for raising funds via FPO.
SBI in an exchange filing had said, “pursuant to the intimation given by Yes Bank to the stock exchanges on July 7, 2020 on the issue of raising capital, the executive committee of the central board (ECCB) of State Bank of India at its meeting held today on July 8, 2020 has accorded approval for a maximum investment of up to Rs 1,760 crore in the Further Public Offering (FPO) of Yes Bank Ltd.”
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