Yes Bank closes share sale undersubscribed, SBI Caps steps in

By Jonathan Breen
20 Jul 2020

India’s Yes Bank ended its Rp150.2bn ($2bn) share sale without enough demand to cover the deal, after a low turnout from individual investors.

Institutional investors showed strong demand for the stock, more than covering their allocation, but a comparative lack of orders from non-institutional accounts and retail investors meant the offer was closed just 0.93 times subscribed at the end. 

Yes launched its three-day "further public offering" (FPO), effectively a re-IPO, on ...

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