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On Monday, Yes Bank Ltd stock fell for the sixth consecutive session, hitting the lower circuit of 10% after its Follow-on Public Offer (FPO) as shares started trading. It was trading at Rs 12:30 on BSE, 10% down from its previous closing. Since the start of the year, it is down by 74%.
Yes Bank has announced its Rs 15,000 crore FPO on July, 10 and the final issue price was set at Rs 12 per share, the lower end of the price range between Rs12-13. Almost 60% reduction from its share price on July, 9 after that the stock prices have fallen nearly 53.85%.
According to the BSE statement, Yes Bank said that Bay Tree India, an entity controlled by US investor Tilden Park, has been allocated a 7.48% or 187.5 crores stake in the company. Tilden Park 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.
Yes Bank has successfully closed its FPO on July, 17 with a 95% subscription carried out by institutional investors, even as HNIs and retail investors showed lukewarm interest in the bank’s offering. The subscription received by the bank through FPO is worth Rs 14,267 crore within the lower end price band of Rs 12-13 per share.
Yes Bank Ltd Hits 10% Lower Circuit
