Yes Bank Shares Fall 9% After Board Announces FPO Band

Roshni Agarwal

In another round of fund raising by a lender, this time via the FPO route, Yes Bank shares in intra-trade on July 10, 2020 fell as much as 9% to day's low of Rs. 24.2 per share on the BSE.

This is after the company's board decided the FPO price band.

Capital Raising Committee (CRC) of the Board of Directors of the Yes Bank in its today's meet has approved the floor price at Rs 12 per equity share and cap price at Rs 13 per equity share.

A discount of Re 1 per equity share has been offered to the eligible employees of the bank bidding in the employee reservation portion.

The minimum bid lot is of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter.

A meet is again scheduled for July 14 to decide on the allocation of shares to anchor investors and setting price for them.

At 1:38 pm,the stock traded weak by 5% at Rs. 25.3 per share on the BSE.

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