Yes Bank FPO Subscription
Yes Bank FPO subscribed 0.93 times. The public issue subscribed 0.47 times in the retail category, 1.90 times in QIB, and 0.63 times in the NII category by Jul 17, 2020 18:49.
| Category | Subscription Status |
|---|---|
| Qualified Institutional | 1.90 Times |
| Non Institutional | 0.63 Times |
| Retail Individual | 0.47 Times |
| Employee | 0.32 Times |
| Others | [.] Times |
| Total | 0.93 Times |
Yes Bank FPO Timetable
| IPO Opens On | Jul 15, 2020 |
| IPO Closes On | Jul 17, 2020 |
| Finalisation of Basis of Allotment | Jul 22, 2020 |
| Initiation of Refunds | Jul 23, 2020 |
| Credit of Shares to Demat Account | Jul 24, 2020 |
| IPO Listing Date | Jul 27, 2020 |
Yes Bank FPO Subscription Details (Day by Day)
Yes Bank FPO live subscription details on a day to day basis by the investor's category from BSE and NSE. Till Jul 17, 2020 18:49, the public issue subscribed 0.93 times. Yes Bank FPO received bids for 0.47 times issue size in retail, 1.90 times issue size in QIB, and 0.63 times issue size in the Non-institutional category.
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
Jul 15, 2020 17:00 | 0.55x | 0.04x | 0.09x | 0.05x | 0.22x |
Jul 16, 2020 17:00 | 1.19x | 0.11x | 0.20x | 0.11x | 0.48x |
Jul 17, 2020 18:49 | 1.90x | 0.63x | 0.47x | 0.32x | 0.93x |
Yes Bank FPO Shares Offered
Yes Bank FPO is a public issue of 9,099,766,899 equity shares. The issue offers 4,316,666,667 shares to retail individual investors, 2,751,282,051 shares to qualified institutional buyers, 1,850,000,000 share to non-institutional investors.
| Category | Shares Offered |
|---|---|
| QIB | 2,751,282,051 |
| NII | 1,850,000,000 |
| Retail | 4,316,666,667 |
| Employee | 181,818,181 |
| Total | 9,099,766,899 |
Yes Bank share price has tumbled 52 percent since it announced the pricing of its follow-on public offer (FPO) on June 10.
On July 23, the stock plunged 20 percent during the day to Rs 14.6, the lowest intraday level since March 6, when the stock tanked 56 percent after the Reserve Bank of India took control of the beleaguered lender following is failure to raise funds.
A few days later, the central bank handed over the control to a new board under a Reconstruction Scheme.
As part of the reconstruction plan, marquee institutions – State Bank of India, Kotak Mahindra Bank, ICICI Bank, Federal Bank, HDFC, Axis Bank, Bandhan Bank and IDFC First Bank –have invested Rs 10,000 crore in Yes Bank.
On March 6, the stock fell to Rs 5.55 during the day but recovered to close at Rs 16.2. On July 23, the stock was trading at Rs 15.65 on the BSE, down 14.25 percent, at 1413 hours.
The consistent fall could be an indication that the share price could gradually be adjusting to the FPO price, which is expected to be fixed at Rs 12, the lower end of price band of Rs 12-13 per share, experts say.
Majority of bids had come in at Rs 12 per share, even anchor investors put in their bids at the same price.
Arun Kejriwal, a primary capital market expert and owner of AK47.in, told Moneycontrol that the stock price may adjust near the issue price before the listing.
"While we agree that the FPO was priced cheap considering the uncertainties like stressed asset quality and overall depressed financial performance expected in the foreseeable future in banking operations going forward. But we do also expect that there are high possibilities that the stock price will get adjusted to near FPO issue price of Rs 12 before listing or even dive down," Prashanth Tapse, AVP Research at Mehta Equities, said.
Yes Bank has managed to raise Rs 14,272 crore or 95 percent of its issue size of Rs 15,000 crore, while the balance amount is expected to be received from issue underwriter SBI Capital Markets.
SBI Capital Markets had committed underwriting amount of up to Rs 3,000 crore, the prospectus says.
FPO shares are likely to be listed on July 27.
The bank will utilise the net proceeds towards ensuring adequate capital to support its growth and expansion, including enhancing its solvency and capital adequacy ratio.
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