The bank has set a floor price of Rs87.9/ share for the issue, with a proposed discount of not more than 5% depending on demand from investors in India and aboard. The sale to institutional investors is scaled down from an earlier plan to raise as much as $1bn.
The committee “approved the floor price for the issue being Rs87.90 per equity share, based on the pricing formula…and the committee may, at its discretion, offer a discount of not more than 5% on the floor price”, the bank said in the press note.
Further, the bank said in a notice to exchanges that a committee will meet on August 16 to consider and approve the issue price and final discount.
Yes Bank Ltd is currently trading at Rs88.35, down by Rs0.8 or 0.9% from its previous closing of Rs89.15 on the BSE.
The scrip opened at Rs91 and has touched a high and low of Rs92.40 and Rs86.75 respectively.