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YES BANK raises 49.07B rupees in share sale

YES BANK Ltd. raised 49.07 billion Indian rupees from its share sale to qualified institutional investors.

The bank said in a March 29 filing that it issued 32,711,000 shares at 1,500 rupees per share.

The qualified institutional placement, or QIP, opened March 23 and closed March 29.

YES BANK previously attempted to raise US$1 billion in 2016 through a QIP but subsequently withdrew the share sale program, citing extreme volatility in its share price.

As of March 30, US$1 was equivalent to 64.86 Indian rupees.