BUSINESS

Yes Bank Gainers Rs 4,500 Crore from Anchor Investors

Yes Bank on Tuesday raised Rs 4,500 crore from anchor investors ahead of its Follow-on Public Offerings (FPO) that opens on Wednesday.
Earlier, Yes Bank has decided to raise up to Rs 15,000 crore this year as reported on 1 July, to support its growth and expansion, enhancing its solvency, capital adequacy ratio, and evolving regulatory requirement. Prashant Kumar, Chief Executive Officer of Yes Bank has said that if the bank raises Rs 15,000 crore there is no need for raising funds in the market for coming three years.
In a regulatory filing to stock exchanges, Yes Bank said, the company has decided to allocate 3,415,384,614 shares to anchor investors at Rs12 per share. The company has fixed a price band of Rs 12-13 per share for its FPO, which will be open for subscription from July 15-17.
Tilden Park, a multi-strategy fixed-income-focused alternative asset manager has invested Rs 2,250 crore in the lender’s anchor portion. The other investors who have received an allotment in the anchor book are Elara Capital, Hinduja Grup’s Leyland Finance, HDFC Life Insurance Company, RBL Bank and ICICI Prudential Mutual Fund.
The merchant bankers of the issue include Kotak Mahindra Capital Company, SBI Capital MarketsAxis Capital, Citigroup Global Markets India Private Limited, HSBC Securities, DSP Merrill Lynch and ICICI Securities, Capital Markets (India) Private Limited and YES Securities (India) Limited.

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