The Capital Raising Committee (CRC) of Yes Bank on Friday set a floor price of Rs 12 per share for its further public offer (FPO), which is scheduled to open from July 15 to 17.
FPO is the second round of public issue of shares by an already existing or listed public company.
In a BSE filing the private lender said, “the capital raising committee (CRC) of the bank’s board at its meeting has approved floor price of Rs 12 per equity share,” adding that the cap price for the FPO is Rs 13 per unit.
“A minimum bid lot of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter,” it added.
The lender has also announced a discount of Re 1 per equity share for the eligible employees of the bank bidding in employee reservation portion.
The restructured private bank plans to raise up to Rs 15,000 crore through the upcoming FPO issue. The bank filed a red herring prospectus for its FPO on Thursday regarding the same.
A CRC meeting is scheduled to be held on July 14, 2020 for the purposes of allocation of equity shares to the successful anchor investors pursuant to the offer and for determination of the anchor investor allocation price.
Yes Bank’s FPO offer will open on July 15, 2020 and close on July 17, 2020.
Earlier this week, Yes Bank had received approval from the CRC to raise funds through the offering.
In another development, an executive committee of State Bank of India’s central board gave its approval for a maximum investment of up to Rs 1,760 crore in the FPO of Yes Bank.
On March 13, the government had approved a bailout plan for Yes Bank. Under the plan, Yes Bank had received around Rs 10,000 crore from eight financial institutions, including Rs 6,050 crore from SBI.