Embattled YES Bank is all set to launch its follow-on public offer (FPO) to raise up to Rs 15,000 crore in the second week of July. The issue will have an anchor investor component of up to Rs 4,500 crore, said a banker close to the development.

The issue, to be managed by SBI Caps, will be launched at a substantial discount to the current market price to attract investors.

On Monday, the bank’s shares closed at Rs 27.75 apiece, giving it a market valuation of Rs 34,828 crore.

It has started meeting potential investors to sell the issue. The investors have asked the bank to clean up its books before the launch of FPO, said an official of a large institution. The fundraising committee of the bank will meet again next week to review the demand from investors. The fundraising is important for the bank to boost its capital base, especially after it announced on Monday that it failed to make interest payments on its bonds, after the RBI said its capital adequacy ratio was below regulatory ratio.