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    SBI stake in YES Bank declines to 30% after FPO

    Synopsis

    Prior to the FPO, SBI holding in Yes Bank stood at 48.21 per cent, the country's largest lender said in regulatory filing.

    Agencies
    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.

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    NEW DELHI: 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 State Bank of India.
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    9 Comments on this Story

    Manish Upadhyay57 days ago
    Ambani is all grounded he doesn't have money. He is already a beggar.
    Time will tell who is going to loot India. Gandhi Family or Modi. But for the time being we need more money to buy weapons to Push China and Pakistan back. If Gandhi family can contribute from the looted money it would be great. Yes bank IPO or FPO its a open book auditors can find the who has taken and looted the money.
    Ramam Rajolu57 days ago
    Why SBI is having so much love towards YES bank. When YESBank was on brink, SBI galloped to save YES bank with tons of money. What can be the reason, every body wonders? Is it a prudent investment in YES bank?
    Who approved it? Board of directors or chairman of the bank. Whether GOI MF permission is needed or not? With in a very short period, SBI lost 30%of the investment. It is not far off, SBI will loose 100%. No accountability. Just like that, these people throw public money.
    Binu Pillai57 days ago
    Manish bhai : Modi robbed the common man and built his castles along with friends ADANI, AMBANI. Modi fake portray that he dont have money to buy shaving blade, but his castles are sky high; his LOOT is the biggest in the history of india.
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