Yes Bank Raises Rs 1,930 Crore Via QIP

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.