YES Bank FPO to open on July 15, raise up to Rs 15,000 crore

Non-public sector loan company Sure Lender on Thursday explained it has submitted a crimson herring prospectus to elevate up to Rs fifteen,000 crore by issuance of refreshing fairness shares in its further community giving (FPO).

The offer you will open on July fifteen, 2020 and shut on July 17, 2020.

Earlier this week, Sure Lender had received approval from the money-raising committee (CRC) of its board of directors to elevate money by the giving.

“The lender has submitted a crimson herring prospectus dated July seven, 2020 (RHP), in connection with the offer you, with the Registrar of Organizations, Maharashtra at Mumbai,” Sure Lender explained in a regulatory filing.

Sure Lender explained the offer you size of the FPO is Rs fifteen,000 crore, by way of a refreshing problem of fairness shares, which includes an personnel reservation part of up to Rs two hundred crore.

ALSO Read through: State Lender of India to devote up to Rs 1,760 crore in Sure Bank’s FPO

The executive committee of Condition Lender of India’s central board has specified approval for a most investment of up to Rs 1,760 crore in the FPO of Sure Lender, an SBI statement explained on Wednesday.

On March thirteen, the government had accredited a bailout approach for Sure Lender. Less than the approach, Sure Lender had received all around Rs 10,000 crore from 8 fiscal establishments, which includes Rs six,050 crore from SBI.

On Tuesday, Sure Lender had explained a meeting of the CRC of the lender is scheduled to be held on or right after July 10, 2020, to consider and approve, among other items, the selling price band and price reduction, if any.

Shares of Sure Lender had been investing two.49 for every cent greater at Rs 26.75 apiece on BSE.