Yes Bank garners Rs 4,100-crore from anchor investors ahead of FPO

yes bank

Private sector lender Yes Bank on Tuesday said it has raised around Rs 4,100 crore from anchor investors ahead of its follow-on public offer that opens on Wednesday.

The company has decided to allocate 3,415,384,614 shares at Rs 12 per share to anchor investors, taking the total to Rs 4,098.5 crore, Yes Bank said in a regulatory filing to stock exchanges.

These investors include US-based alternative asset manager Tilden Park Capital Management’s Bay Tree India Holdings, Singapore-based fund management company Amansa Capital and UK-based fund management firm Jupiter Fund.

Other investors are Elara Capital, RBL Bank, Hinduja Group’s Leyland Finance, HDFC Life Insurance Company and ICICI Lombard General Insurance Company, Bajaj Allianz Life Insurance Company, Reliance General Insurance Company and Edelweiss.

Tilden Park, a multi-strategy fixed-income-focused alternative asset manager with expertise in distressed credit, has invested Rs 2,250 crore in the lender’s anchor book.

The company has fixed a price band of Rs 12-13 per equity share for its follow-on public offer (FPO) which will be open for subscription from July 15-17.

Yes Bank is aiming to raise Rs 15,000 crore through the issue to ensure adequate capital to support its growth and expansion, including enhancing its solvency, capital adequacy ratio, and evolving regulatory requirement.

Kotak Mahindra Capital Company, SBI Capital Markets, Axis Capital, Citigroup Global Markets India Private Limited, DSP Merrill Lynch, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities and YES Securities (India) Limited are the merchant bankers of the issue.