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YES Bank FPO; face value of stock is fixed at Rs 12

The face value of the stocks of YES Bank is been fixed at INR 12. The cap price of the stock is INR 13, while eligible employees can purchase the stocks at the face value. All set to begin form July 15th onwards, Yes Bank is looking forward to amass a total amount of INR 15,000 Cr from its IPO. The IPO would come to an end on July 17th.

Through this IPO, the bank is looking forward to increase the tier one capital to 10%; whereas the tier one capital of the bank till March stands at 6.3%. Earlier, at March 5th, RBI took over the control of the bank, as the bank’s performance slumped to all time low figures. Bank then, a consortium of several banks was formed, which invested in Yes Bank, an amount of INR 10,000, in an attempt to resolve the issues.

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