95% of Yes Bank FPO subscribed on last day
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Reuters
Synopsis
SBI Capital Markets would have had to underwrite Rs 3,000 crore worth of shares in the FPO, at a price equal to the lowest end of the price band in case of under-subscription.
By ET Bureau
Last Updated:
Mumbai: The Rs 15,000-crore follow on public offer (FPO) by Yes Bank scraped through on the last day of the issue on Friday with 95 per cent subscription. According to Sebi norms, companies need a minimum subscription of 90 per cent of the issued amount on the date of closure; else they have to refund the entire subscription amount received.
SBI Capital Markets would have had to underwrite Rs 3,000 crore worth of shares in the FPO, at a price equal to the lowest end of the price band in case of under-subscription.
The issue attracted bids for 11.88 billion shares, or 95 per cent of the issue size of 12.51 billion shares offered, showed subscription data on NSE. While the qualified institutional buyers portion was subscribed 1.4 times, the segments meant for high net-worth investors and retail buyers were subscribed just 63 per cent and 43 per cent, respectively.
HDFC Standard Life, Norges Fund, Iffco Tokio, BNP Arbitrage Fund, HDFC Mutual Fund, DE Shaw, PNB Treasury, Jane Street, AURIGIN Funds and Millennium Management Global are some of the large institutional investors that have subscribed to the FPO, according to bankers.
SBI Capital Markets would have had to underwrite Rs 3,000 crore worth of shares in the FPO, at a price equal to the lowest end of the price band in case of under-subscription.
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The issue attracted bids for 11.88 billion shares, or 95 per cent of the issue size of 12.51 billion shares offered, showed subscription data on NSE. While the qualified institutional buyers portion was subscribed 1.4 times, the segments meant for high net-worth investors and retail buyers were subscribed just 63 per cent and 43 per cent, respectively.
HDFC Standard Life, Norges Fund, Iffco Tokio, BNP Arbitrage Fund, HDFC Mutual Fund, DE Shaw, PNB Treasury, Jane Street, AURIGIN Funds and Millennium Management Global are some of the large institutional investors that have subscribed to the FPO, according to bankers.