Yes Bank Raises $543 Million From Investors Ahead of Public Sale
Police officers observe customers standing in line outside a Yes Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Yes Bank Raises $543 Million From Investors Ahead of Public Sale

Yes Bank Ltd. raised 41 billion rupees ($543 million) from a dozen select investors as part of its $2 billion public share offering.

Bay Tree India Holdings I Llc is the largest among the so-called anchor investors, paying about 22 billion rupees for 55% of the investor portion, which consisted of 3.42 billion shares priced at 12 rupees each, the Mumbai-based lender said in an exchange filing Tuesday. Other foreign investors in the anchor book include Amansa Capital and Jupiter Funds.

Retail and other potential investors can participate in the share offering through the rest of this week.

READ: Yes Bank to Focus on Retail Loan Growth After Capital Raising

Yes Bank, which was bailed out in March, is the latest Indian lender to announce capital raising plans to boost lending and bad loan buffers.

©2020 Bloomberg L.P.

Also read: Yes Bank Says Rs 15,000 Crore Capital From FPO Will Suffice For Two Years

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