Share price of YES Bank gained in early trade after the lender raised Rs 4,098 crore from anchor investors ahead of its follow-on public offer (FPO) on Wednesday. YES Bank share price gained 5% to the intraday high of Rs 22 against previous close of Rs 20.95. The stock price of the private lender opened lower at Rs 20.60 on BSE. The stock has lost 22.4% in last four days.
YES Bank share has fallen 21.07% this week and 29% in a month. The stock trades lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. In afternoon session, the share erased gains to trade in the red. The stock has lost 22.15% in last 4 days.
In one year, the stock has fallen 78% and declined 56% since the beginning of this year. In afternoon session, the share fell 1.91% to Rs 20.55 on BSE. He
Ahead of the FPO today, the company allocated 3,415,384,614 equity shares to anchor investors at Rs 12 per equity share, which may be subject to change upon determination of the offer price. According to investment banking sources, several investors including FPIs have been allocated shares at Rs 12 apiece in the anchor portion.
These investors are US-based alternative asset manager Tilden Park Capital Management LP, Singapore-based fund management company Amansa Capital and UK-based fund management firm Jupiter Fund.
Tilden Park, a multi-strategy fixed-income-focused alternative asset manager with expertise in distressed credit, through its investment vehicle BayTree India Holdings is the largest investor in the FPO and has invested over Rs 2,250 crore in the lender.
The other investors who have received an allotment in the anchor book are HDFC Life Insurance, Bajaj Allianz Life Insurance, ICICI Lombard, Reliance General Insurance, RBL Bank, among others.
By Aseem Thapliyal