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Yes Bank shares available on stock exchanges

By on April 25, 2017

Yes bank, India’s fifth largest private sector bank, announced that `3.27 crore shares allotted under the qualified institutional placement (QIP) have now been listed and available for trading on the stock exchanges .

Managing director and CEO Rana Kapoor said, “Yes Bank’s `4,906.65 crore (US$750 mn) QIP is India’s largest private sector QIP in INR terms and a transaction of significant magnitude for our bank. We are delighted that marquee institutional investors including long only funds, mutual funds, insurance companies and pension funds, etc. have reposed investor commitment in our financial and business model. The QIP will significantly boost our capital adequacy and ensure that we are well-positioned to capitalise on the opportunities provided by the re-invigorated economic environment in India.”

The overall allocation split is approximately 60 per cent to international long only funds, 20 per cent to domestic long only funds, and 20 per cent to international hedge funds. Further, international long only investors are primarily from the USA and the rest from Europe, Canada and Asia, ensuring a well-diversified representation and demand from all classes of significant global investors across the world. The QIP also enables a further diversification of the bank’s shareholder base.

CLSA India Private Limited, DSP Merrill Lynch Limited, IIFL Holdings Limited and Motilal Oswal Investment Advisors Private Limited were the global co-ordinators and book running lead managers to the QIP issue.