Yes Bank has raised $500 million through an institutional placement of shares for funding its expansion, sources said.
The global Qualified Institutional Placement (QIP) of shares received a response of $2.5 billion, getting oversubscribed by five times the offer size, they said.
Investors from USA and Europe accounted for 40 per cent of the $ 2.5 billion in subscriptions, while Asia and domestic investors were at an equal 30 per cent, they added.
Details of the issue around pricing were not immediately known. The Yes Bank scrip was trading 3.53 per cent at Rs 569.30 apiece on the BSE at 1125 hrs this morning, with the 30-share benchmark up 0.28 per cent.
The total capital adequacy of the bank had stood at 14.4 per cent with the core tier-I at 9.1 per cent, which is rather low for a private sector lender.
The share sale in the bank, whose promoters are fighting a pitched battle over individual rights in court, comes after the bank board approved for extending the deadline for such a share sale last month.
According to reports, it will bring down the promoter group's shareholding in the bank by about 10 per cent.