SBI stake in Yes Bank declines to 30 per cent after FPO
State Bank of India (SBI) on Monday said its holding in Yes Bank has come down to 30 per cent after the follow on public offer (FPO). Prior to the FPO, SBI holding in Yes Bank stood at 48.21 per cent, the country's largest lender said in regulatory filing.
With the FPO, the share capital of Yes Bank doubled to 2,505.4 crore of face value Rs 2 per share from 1,255 of face value of Rs 2 each, it said.Following the FPO, SBI holding in Yes Bank stood at 751.6 crore shares, which is 30 per cent of the total share capital.
Earlier this month, Yes Bank managed to close its FPO with about 95 per cent subscription, driven by institutional investors, even as HNIs and retail investors showed tepid interest in the bank's offering.
While the bank has managed to raise only Rs 14,267 crore out of its total target of Rs 15,000 crore, the shortfall was funded by SBI.
