Mumbai: Yes Bank Ltd, India’s fifth-biggest private sector lender by assets, has launched a share sale to institutions to raise as much as $750 million, according to a deal term sheet seen by Reuters.
The base size of the sale of new shares is $650 million and the bank has an option to increase it to $750 million, the term sheet showed.
The shares are being sold in a price range of Rs1,455 to Rs1,500. The price range reflects a discount of 1.22% to 4.19% to the stock’s Thursday closing price of Rs1,518.60 on the National Stock Exchange (NSE).
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Last September the lender shelved an up to $1 billion share sale a day after launching the deal.
Bank of America Merrill Lynch, CLSA, IIFL, Motilal Oswal are managing the latest share sale.
