Lawstreet Journal

Yes Bank Receives Rs 4,500 Crore From Anchor Investors Ahead Of Follow-on Public Offer

Lawstreet Journal 16 Jul 2020 9:51pm

Image courtesy: Lawstreet Journal Business Yes Bank Receives Rs 4,500 Crore From Anchor Investors Ahead Of Follow-on Public Offer

Private sector commercial bank, Yes Bank on July 14, 2020, accumulated Rs 4,500 crore from anchor investors before its follow-on public offer that begins on July 15, 2020, investment banking informants explained.

The company has decided the price band to be at Rs 12-13 per share of equity for its follow-on public offer (FPO) which will be unfurling for subscription from July 15, 2020, to July 17, 2020.

Yes Bank is trying to get an investment of Rs 15,000 crore through the issue of shares to guarantee enough funds to enable its growth and expansion, which also includes making its solvency, capital adequacy ratio, and evolving regulatory requirement better.

The investment banking sources expressed that many investors including Foreign portfolio investors have been accorded shares at Rs 12 per share in the anchor portion.

These investors consist of US-based alternative asset manager Tilden Park Capital Management LP, Singapore-based fund management company Amansa Capital, and UK-based fund management firm Jupiter Fund, the sources mentioned.

Tilden Park, a multi-strategy fixed-income-focused alternative asset manager with a specialization in distressed credit, has come into the Indian market by joining the Yes Bank's anchor book. It has given over Rs 2,700 crore in funds to the lender.

Investors who have accorded allotment in the anchor book are inclusive of Elara Capital, Ratnakar Bank Limited (RBL) Bank, Hinduja Group's Leyland Finance, HDFC (Housing Development Finance Corporation) Life Insurance Company and ICICI (Industrial Credit and Investment Corporation of India) Prudential Mutual Fund, the informants mentioned.

Kotak Mahindra Capital Company, State Bank of India (SBI) Capital Markets, Axis Capital, Citigroup Global Markets India Private Limited,… Continue Reading...

Tagged: Yes Bank  
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