Mumbai: Yes Bank will enter the capital market with it's IPO on June 15 , 2005. The issue will close on 21 June 2005. The bank will offer 70 million equity shares of Rs 10 each for cash, through the 100 per cent book-building route. The price band for the issue is Rs 38 to Rs 45.
The bank plans to augment its long-term capital requirements to implement it's growth plans, as well as further strengthen it's banks capital base. Of the 70 million equity shares on offer, Yes Bank plans to allocate up to 50 per cent of the issue to qualified institutional buyers (QIBs), at least 25 per cent to non-institutional bidders, and at least 25 per cent to retail investors. While allotment to QIBs would be on a discretionary basis, allotment to non-institutional bidders and retail investors would be on a proportionate basis.
The promoters' pre-IPO shareholding in the bank is 52.1 per cent. Other significant pre-IPO shareholders include Rabobank International Holding, B.V. (20 per cent), and three foreign private equity investors: Citicorp International Finance Corporation (10 per cent); ChrysCapital II, LLC (7.5 per cent); and AIF Capital, Inc (7.5 per cent).
The book-running lead managers for the issue are DSP Merrill Lynch Limited and Enam Financial Consultants Pvt Ltd.