"We will come up with an IPO within 90 days. The bank will file the Red Herring prospectus with SEBI in March-April," Kapoor said after signing a bancassurance tie-up with Max New York Life in New Delhi.
He declined to divulge details of the price of the issue but said it would be determined through the book-building route. Kapoor said the bank aims to raise about Rs 300 crore from the public, whose shareholding in the bank would go up to 25 per cent.
The bank's capital base will go up to 517 crore (Rs 5.17 billion) after the IPO from the present level of Rs 217 crore (Rs 2.17 billion). The foreign holding in the bank is slated to come down to 34-35 per cent from the present 45 per cent.
At present, Rabobank of Netherlands hold 20 per cent while three private equity investors -- CVC International, Chrys Capital and AIF Capital -- have 25 per cent stake in the new generation private bank.
Yes Bank was promoted by Rana Kapoor and Ashok Kapur, who together hold 52.5 per cent and the bank employees have the remaining 2.5 per cent.
After getting the licence from the RBI in May 2004, Yes Bank has been able to mop up Rs 600 crore (Rs 6 billion) in deposits and disburse Rs 750 crore (Rs 7.5 billion) in loans.
The bank now has a capital adequacy ratio of more than 20 per cent. Elaborating on the expansion plans, Kapoor said the bank was open to grow through branch expansion and acquisitions.
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