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YES Bank launches $650-mn QIP offer

The floor price has been fixed at Rs 1,498.95 per share

Photo courtesy: www.twitter.com
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Photo courtesy: www.twitter.com

Anup Roy Mumbai
After scrapping its last offering in September, private sector YES Bank Ltd on Thursday said it would go for a fresh round of share sale through qualified institutional placement (QIP).

The bank’s board had passed resolutions in April and October last year allowing the bank to raise $1 billion equivalent (including premium) in rupee of capital through QIP. However, this time the bank is trying to raise a total of $750 million equivalent ($650 million in base price and $100 million through greenshoe option).

In a notice on exchanges, YES Bank said its QIP opened on Thursday itself.

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