New Delhi: Private sector lender Yes Bank on Wednesday said 3.27 crore shares allotted under the Qualified Institutions Placement (QIP) have been listed and available for trading on the stock exchanges.
The QIP, through which the bank raised Rs4,906.65 crore ($750 million), will boost the capital adequacy to 20%, Yes Bank said in a statement. It will ensure the bank is well positioned to capitalise on the opportunities provided by the re-invigorated economic environment in India, it said.
The floor price for the QIP offer, made last month, was Rs1,498.95 a share with option of discount of 5% on discretion. The bank, which last raised capital in 2014 using the QIP route with a $500 million issue, had to cancel a $1 billion issue last September citing “extreme market volatility”.
Media reports had said the markets regulator Securities and Exchange Board of India (Sebi) had found that Yes Bank had violated norms governing listing obligations and disclosure rules (LODR) relating to misrepresentation of facts and adequate disclosure before it proceeded with the QIP.
