Yes Bank on Monday tumbled nearly 10 per cent to its lowest trading permissible limit for the day after its follow-on public offer shares got listed.
The stock plunged 9.89 per cent to ₹12.30 -- its lower circuit limit -- on the BSE.
At the NSE, it tanked 9.89 per cent to its lowest trading permissible limit for the day of ₹12.30.
“12,50,44,33,750 equity shares of ₹2 each fully paid up securities of Yes Bank Limited are listed and admitted for trading on the Exchange with effect from Monday, July 27, 2020. These shares rank pari-passu with the existing equity shares of the company,” according to a BSE notice issued on Friday.
Yes Bank’s follow-on public offer to raise ₹15,000 crore was subscribed 93 per cent on the final day of bidding.
The Follow-On Public Offer (FPO) subscription was 95 per cent after including the anchor investors’ portion.
An issue is considered successful if it receives a minimum subscription of 90 per cent of its total size.
Yes Bank had fixed a price band of ₹12-13 per share for the FPO, which opened for subscription on July 15.