Yes Bank FPO is a book built issue of Rs 15,000.00 crores. The issue is entirely a fresh issue.
Yes Bank FPO bidding started from July 15, 2020 and ended on July 17, 2020. The allotment for Yes Bank FPO was finalized on Wednesday, July 22, 2020. The shares got listed on BSE, NSE on July 27, 2020.
Yes Bank FPO price band is set at ₹12 to ₹13 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹13,000.
The issue includes a reservation of up to 181,818,181 shares for employees offered at a discount of Rs 1 to the issue price.
Refer to Yes Bank FPO RHP for detailed information.
| IPO Date | July 15, 2020 to July 17, 2020 |
| Listing Date | July 27, 2020 |
| Face Value | ₹2 per share |
| Price Band | ₹12 to ₹13 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹15,000.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹15,000.00 Cr) |
| Employee Discount | Rs 1 per share |
| Issue Type | Book Built Issue FPO |
| Listing At | BSE, NSE |
Yes Bank FPO offers 9,099,766,899 shares. 2,751,282,051 (30.23%) to QIB, 1,850,000,000 (20.33%) to NII, 4,316,666,667 (47.44%) to RII, 181,818,181 (2.00%) to employees. 4,316,666 RIIs will receive minimum 1000 shares and (sNII) and (bNII) will receive minimum 16,000 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 2,751,282,051 (30.23%) | NA |
| NII (HNI) Shares Offered | 1,850,000,000 (20.33%) | |
| Retail Shares Offered | 4,316,666,667 (47.44%) | 4,316,666 |
| Employee Shares Offered | 181,818,181 (2.00%) | NA |
| Total Shares Offered | 9,099,766,899 (100%) |
Yes Bank FPO opens on July 15, 2020, and closes on July 17, 2020.
| IPO Open Date | Wednesday, July 15, 2020 |
| IPO Close Date | Friday, July 17, 2020 |
| Basis of Allotment | Wednesday, July 22, 2020 |
| Initiation of Refunds | Thursday, July 23, 2020 |
| Credit of Shares to Demat | Friday, July 24, 2020 |
| Listing Date | Monday, July 27, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 17, 2020 |
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹13,000 |
| Retail (Max) | 15 | 15000 | ₹195,000 |
| Lot Size Calculator | |||
Incorporated in 2003, Headquartered in Mumbai Yes Bank is a private sector bank in India. It has developed as a full-service commercial bank offering banking and technology-driven product and services to fulfill the financial needs of MSME, corporate, and retail customers.
Yes Bank provides merchant banking, investment banking, and brokerage businesses through Yes Securities. The mutual fund business of the company is handled by YES Asset Management (India) Limited, a subsidiary of Yes Bank. It has a pan-India presence across 28 states and 8 Union Territories. One representative office of the bank is also established in Abu Dhabi in March 2020. As of March 31, 2020, the bank has 1,135 branches and 1,423 ATMs. Yes Bank has presence in metro, urban, semi-urban and rural locations across India.
Product and Services:
1. Investment Banking Solutions
2. Yes First Corporate Credit Card
3. Yes Prosperity Purchase Credit Card
4. Treasury and Risk Management Solutions
5. Loans
6. Transactions Banking Solutions
7. Debt Capital Markets
8. Surplus and Investments
9. Digital Banking
After Yes Bank collapse in 2019, SBI has bought around 49% stake and became the shareholder in the company.
The bank is set to launch FPO (follow-on public offer) on July 15th, 2020 to recover from the huge bad debt and generate funds from the share sale to enhance the capital base.
Competitive Strengths
1. Public-private ownership model
2. Strong technology backbone
3. Strong focus on retail and SME advances
4. Pan India presence
| Particulars | For the year/period ended (Rs in Million) | |||
|---|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 2,578,321.64 | 3,808,596.10 | 3,124,496.54 | |
| Total Revenue | 103,350.56 | 144,879.93 | 130,323.20 | |
| Profit After Tax | (164,325.80) | 17,092.66 | 42,332.20 | |
The proposed utilisation of the net proceeds is for ensuring adequate capital to support growth and expansion, including enhancing the bank's solvency and capital adequacy ratio.
[Dilip Davda] Yes bank suffered a severe setback in line with general trends of the banking sector in general and due to higher NPA following few defaulting advances in particular. Although its pricing indicates negative P/E due to mega losses for FY20, considering its book value and the current market price, the issue is at a sizeable discount. Once the issue proceeds are received, the bank will be on a fast forward mode. Investors may consider investment with a long term perspective. Read detail review.
The Yes Bank FPO is subscribed 0.93 times on July 17, 2020 6:49:03 PM. The public issue subscribed 0.47 times in the retail category, 1.90 times in the QIB category, and 0.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.90 |
| NII | 0.63 |
| Retail | 0.47 |
| Employee | 0.32 |
| Total | 0.93 |