QIP deferral effect: YES Bank tanks 4%
Close to 2,250 crore m-cap gets knocked off on Friday09-09-2016
09-09-2016
Opportunism, the factor behind Yes Bank's share sale embarrassment
By Andy Mukherjee Just as Gadfly was urging Indian banks to use probity and charm to woo wary investors, one lender decided to rely on aggression and hubris. The result? All-round embarrassment. Yes Bank's $1 billion share sale to qualified institutions globally had to be deferred on Thursday amid a slump in its share price. Intra-day slump in Yes Bank's shares Friday 6.1% Even in the bad loan-plagued Indian banking industry, it's highly unusual and awkward for one of the better-run private-sector lenders to knock on the door of international capital markets and get no answer. Nor is Yes Bank the only humiliated party here. When the bank informed the stock exchange it was aborting the issue because of extreme volatility caused by "misinterpretation" of a new regulation, it certainly didn't do any favors to the lead bankers, including Goldman Sachs, CLSA and prominent local brokerage Motilal Oswal. So what caused the issue to collapse? Yes Bank CEO Rana Kapoor told CNBC that the offer was fully subscribed at 4 a.m. in India on Thursday, but he was advised to keep it open for three days before the regulator would allow the shares to be priced and allocated. That inordinately long window rattled bidders, especially after the stock fell as low as 1,321.25 rupees, below the minimum 1,350 rupee new share sale price. If Kapoor is right about the rule, everybody else seems to be breaking it. On Friday morning, Motherson Sumi, an Indian auto-parts supplier to Daimler, closed a share sale to qualified investors after...09-09-2016
Here's why Rana Kapoor made Yes Bank give up on this year's biggest cash chase
Here's why Rana Kapoor made Yes Bank give up on this year's biggest cash chaseThe MD & CEO of the bank says a QIP cannot be kept open for 3 days because then speculators come in and start behaving oddly.09-09-2016
Yes Bank investors lose Rs7,400 crore as shares tank 12.5% in last 3 days
Yes Bank cites extreme volatility and misinterpretation of new qualified institutional placement guidelines' for the share sale delay09-09-2016
Proposed QIP Deferred
Yes Bank Ltd has informed BSE that:"Due to Extreme Volatility during today's trading day because of misinterpretation of new QIP guidelines, YES BANK has been advised by its appointed Merchant Bankers to defer its proposed QIP."08-09-2016
Updates on Qualified Institutional Placement
With referenec to the earlier letter dated September 07, 2016 intimating the approval accorded by the Capital Raising Committee of the Bank to open the QIP and of the proposed meeting of the Capital Raising Committee of the Bank on September 12, 2016. Yes Bank Ltd has now clarified that the said date has been intimated in compliance with recently notified regulations, namely Regulation 29(1) read with Regulation 29(2) of the Securities and Exchange...08-09-2016
Till 2020, Yes Bank can grow at 30%: Rana Kapoor
We are also seeing fantastic accretion in CASA deposit base which is nearing 30% and helping reduce the cost of funds. This should position the bank in a strong way for the next phase of growth.08-09-2016
Qualified Institutional Placement
Yes Bank Ltd has informed BSE regarding Qualified Institutions Placement of equity shares of face value Rs. 10 each (the "Equity Shares") by the Bank under Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations") and Section 42 of the Companies Act, 2013.08-09-2016
Yes Bank set to launch biggest QIP of 2016
Yes Bank wants to use the funds to bolster its capital for meeting prudential norms and support its expansion $1 billion share sale07-09-2016
Schedule of Analyst / Institutional Investor Meet(s)
Yes Bank Ltd has informed BSE that "Schedule of Analyst / Institutional Investor Meet(s)".06-09-2016