Yes Bank allots 3.41 bn shares to anchor investors, raises Rs 4,100 cr

The price band for the FPO is Rs 12 to Rs 13 per share; shares allotted to anchor investors are at the lower end of the price band

Yes Bank on Tuesday allotted shares worth Rs 4,100 crore to 14 institutional investors in the ‘anchor’ category of its follow-on public offering (FPO).

Around 3.41 billion shares were allotted at Rs 12 apiece. More than half of the shares in the anchor book were subscribed by US-based asset manager Tilden Park (under account name Bay Tree India). HDFC Life and Amansa subscribed shares worth nearly Rs 400 crore each. Jupiter India, Bajaj Allianz, ICICI Lombard, Reliance General Insurance and RBL Bank are among some of the other anchor investors.

Anchor allotment is done a day ahead of an initial or follow-on