YES Bank FPO to open on July 15, raise up to Rs 15,000 crore

Personal sector loan provider Yes Lender on Thursday reported it has filed a purple herring prospectus to elevate up to Rs 15,000 crore by way of issuance of contemporary equity shares in its additional general public giving (FPO).

The offer you will open on July 15, 2020 and shut on July seventeen, 2020.

Before this week, Yes Lender experienced gained approval from the capital-raising committee (CRC) of its board of administrators to elevate resources by way of the giving.

“The bank has filed a purple herring prospectus dated July 7, 2020 (RHP), in link with the offer you, with the Registrar of Firms, Maharashtra at Mumbai,” Yes Lender reported in a regulatory submitting.

Yes Lender reported the offer you dimension of the FPO is Rs 15,000 crore, by way of a contemporary problem of equity shares, such as an employee reservation part of up to Rs 200 crore.

ALSO Study: State Lender of India to invest up to Rs one,760 crore in Yes Bank’s FPO

The govt committee of Condition Lender of India’s central board has offered approval for a utmost financial commitment of up to Rs one,760 crore in the FPO of Yes Lender, an SBI statement reported on Wednesday.

On March 13, the authorities experienced permitted a bailout program for Yes Lender. Less than the program, Yes Lender experienced gained about Rs ten,000 crore from eight economic establishments, such as Rs six,050 crore from SBI.

On Tuesday, Yes Lender experienced reported a meeting of the CRC of the bank is scheduled to be held on or just after July ten, 2020, to consider and approve, amongst other issues, the value band and price reduction, if any.

Shares of Yes Lender had been investing 2.49 per cent better at Rs 26.seventy five apiece on BSE.