Yes Bank’s Rs 15K cr further public offering opens on July 15

Yes Bank has filed a red herring prospectus for its further public offering (FPO) to raise up to Rs 15,000 crore.

The FPO issue will open on July 15 and close on July 17. The anchor investor bidding date would be July 14.

In a regulatory filing, the bank on Thursday said that it has reserved a portion of up to Rs 200 crore for its employees.

“In continuation to our letter dated July 7, 2020, we wish to inform you that the bank has filed a red herring prospectus dated July 7, 2020, in connection with the offer, with the Registrar of Companies, Maharashtra at Mumbai,” it said.

The State Bank of India (SBI), on Wednesday, said that its Executive Committee of the Central Board (ECCB) has approved an investment of up to Rs 1,760 crore in the Yes Bank’s FPO.

The state run major is already a major shareholder in the restructured bank with 48.21 per cent stake. As of March 31, banks and other financial institutions held 66.94 per cent stake. As part of the rescue plan, Yes Bank had received Rs 10,000 crore of capital infusion from eight banks, led by the SBI.