The scrip of Yes Bank on Tuesday listed on the Bombay Stock Exchange at Rs 65 per share, a 44.4 per cent premium to the issue price Rs 45 per share.
The first trade was struck at Rs 65 for 50 shares, a BSE official said after the listing ceremony. The scrip touched a high of Rs 70 and was trading at Rs 62.75 at 12.35 pm.
The bank raised Rs 315 crore (Rs 3.15 billion) through the initial public offer, which opened for subscription on June 15 and closed on June 21.
The bid price band for 100 per cent book built issue was Rs 38-45 per share and was oversubscribed 30 times.
The proceeds of the issue would be used to augment long-term capital requirements to implement growth plans and meet minimum capital requirement of Rs 300 crore (Rs 3 billion), its managing director Rana Kapoor said.
DSP Merill Lynch and Enam Financial Consultants were the book running lead managers to the issue.
Commenting on the business performance for the quarter ended June 30, 2005, Kapoor said the credit expansion has maintained a 25-30 per cent growth rate and the financial performance for Q1 would be announced by end of the month.
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