Yes Bank FPO to hit the market on July 15th.
YES Bank FPO Controversy struck private sector lender YES Bank earlier this Friday announced it has submitted a paper for its proposed follow-on public offer, through which the lender’s eyes an issue of raising Rs 15,000 crore. The YES Bank FPO price is set at RS 12 and investors can buy 1-100 lot ranging 12500 shares.
The FPO issue will be open from July 15 to July 17 and bidding by anchor investors will be held on July 14 which can be done on Zerodha or through Net banking ASBA.
Dilemma to invest or not looms in the mind of stock Investors
Follow On Public (FPO) is a process by which listed companies on Stock exchange issues new equity shares to investors or previous existing shareholders.
After this announcement, shares of YES Bank traded nearly 2.50 percent higher at Rs 26.75 in the early morning trade on Friday, while the BSE Sensex was up.
In another Exclusive Report: Country largest lender State Bank of India (SBI) on Wednesday said its executive committee of the central board has given approval for an investment up to Rs 1,760 crore in YES Bank FPO. This announcement was made on earlier Tuesday. Board of directors reported that they have got approval from the Capital Raising Committee of the Board of Directors of the Bank (CRC) for raising funds by means of FPO.
Pursuant to the intimation given by YES Bank to SEBI on July 7, 2020. On the issue of raising fresh capital, the core executive committee of the central board (ECCB) State Bank of India approved an investment of up to Rs 1,760 crore.
Further Public Offering (FPO) of Yes Bank, State Bank of India reported to Stock exchanges body on July 9, 2020.
Grey Market Pricing
As of July 12, Grey Market Premium of YesBank FPO is up by 0.5. Indicating YES Bank FPO shares trading at 13.5 in the grey market. Reflects a thin demand when even FPO price is discounted from the current market price. Investors should only invest after looking at the subscription it receives on the FPO period. It is recommended to invest wisely after looking at YES Bank FPO price on the actual date of subscription.
YES Bank FPO analysis:
- HDFC Securities: Avoid.
- Kotak Securities: Buy for Long term.
- Nomura: Hold
- Sharekhan: Buy for listing gains.
- Axis Direct: Strong avoid.
Read more about YES Bank FPO at Investo Lingo .