Fifth largest private sector lender, Yes Bank on Wednesday confirmed that 3.27 crore shares allotted under the Qualified Institutional Placement (QIP) are listed on the stock exchanges and are now available for trading.
With successful QIP, Yes Bank raised Rs 4,906.65 crore and this will improve the capital adequacy to 20%. This development augurs well for the private bank as it puts the bank in position to capitalise on the opportunities provided by the growing Indian economy.
The QIP offer with a floor price of Rs 1,498.95 per share was offered last month. Yes bank has outperformed the broader markets over one year period and has gained more than 47% over similar period. Private banks have attracted investors due to their growth potential. Sensex over past one year has appreciated over 18% in one year period.