The issue attracted bids for 847.86 crore equity shares as against the total issue size of 909.97 crore equity shares.
The follow-on public offer (FPO) received bids for 523.48 crore shares from qualified institutional buyers (QIBs). The QIB segment was subscribed 1.90 times. Retail investors, non-institutional investors and employees of the bank had not fully subscribed their portion.A FPO needs at least 90% subscription to close successfully. The issue opened on 15 July 2020 and closed on 17 July 2020. Yes Bank offered 909.98 crore shares under the public offer at a price band of Rs 12-13 per share. A discount of Re 1 per equity share was given to the eligible employees of the bank bidding in employee reservation portion. The bank plans to utilise the proceeds from issue to meet its capital requirements to support growth and expansion.
On 14 July, the private lender allotted 3,41,53,84,614 equity shares to a total of 14 anchor investors at Rs 12 per share.
More than half of the anchor book was subscribed by Bay Tree India Holdings. Other investors include HDFC Life Insurance Co, Amansa Holdings, Jupiter India Fund, Jupiter South Asia Access Fund, Bajaj Allianz Life Insurance Co, ICICI Lombard General Insurance Co, RBL Bank, Reliance General Insurance Co, Edelweiss Crossover Opportunities Funds, Elara India Opportunities Fund, Hinduja Leyland Finance and ECL Finance.
State Bank of India (SBI) had earlier informed that it would invest up to Rs 1,760 crore in the FPO.
Shares of Yes Bank rose 2.86% at Rs 19.80 on 17 July 2020.
Yes Bank reported a net profit of Rs 2628.61 crore in Q4 March 2020 as against a net loss of Rs 1506.64 crore in Q4 March 2019. Total income rose 44.4% YoY to Rs 12,115.53 crore during the quarter. The bank generated an extraordinary income (net of tax) of Rs 6,296.94 crore during the quarter on account of writing down of certain Basel III additional tier-1 (AT-1) bonds amounting to Rs 8,415 crore. Excluding this extraordinary item, Yes Bank reported a net loss from ordinary activities of Rs 3,668.33 crore in Q4 March 2020 compared with a net loss from ordinary activities of Rs 1,506.64 crore in Q4 March 2019.
Yes Bank is a full service commercial bank' providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.
The bank was under moratorium for 13 days in March 2020. It resumed full-fledged banking operations from 18 March 2020. This came after a consortium of eight public and private banks, led by State Bank of India, agreed to infuse capital into Yes Bank to rescue it from the brink of a collapse. These financial institutions had together pooled in Rs 10,000 crore as investment at Rs 10 per share in Yes Bank when it faced pressure from depositors.
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