Yes Bank Raises Rs 1,930 Crore Via QIP
A Yes Bank Ltd. branch stands in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Yes Bank Raises Rs 1,930 Crore Via QIP

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Yes Bank Ltd. on Wednesday said it has raised Rs 1,930.46 crore through qualified institutional placement to fund its business expansion.

The QIP opened on Aug. 9 and closed on Wednesday, the bank said in a regulatory filing.

With respect to the issue, it said the bank approved the issue price of Rs 83.55, including a share premium of Rs 81.55 per share which is at a discount of 4.95 percent to the floor price of Rs 87.90 per equity.

The bank offered 23.10 crore shares aggregating to 9.96 percent of the share capital as against a limit of 10 percent of pre-issue share capital as approved by the shareholders, it said.

Also read: Yes Bank Launches QIP Issue Amid Urgent Need For Capital

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