YES BANK FPO Update: CRC approves equity share floor price at Rs 12

YES BANK FPO Update: The Capital Raising Committee (CRC) of the Board of Directors of Yes Bank today approved the floor price of its equity shares for the FPO or follow-on public offer, the bank said in an exchange filing.

The floor price of each equity share is kept at Rs 12 while the cap price at Rs 13, the filing said. A discount of Re 1 per equity share is given to the eligible employees of the Bank, bidding in Employee Reservation Portion.

In the YES Bank FPO, a minimum bid lot of 1,000 equity shares has been kept with provision of further bidding in the multiples of 1,000 equity shares.

The decision was taken in a meeting of the CRC held today at 10 am, the exchange filing said. The meeting was concluded at 11:45 am.

Another meeting of the CRC is scheduled to be held on 14 July, 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, the exchange filing said.

The decision has been taken in accordance with Regulations 29 and 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, the company filing said.

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See details of the Offer:

Offer size: Up to Rs 150,000 million, by way of a fresh issue of equity shares, including an employee reservation portion of up to Rs2,000 million.

Offer Opening Date: July 15, 2020

 Offer Closing Date: July 17, 2020

 Anchor Investor Bidding Date: July 14, 2020