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YES Bank FPO: Don't judge it on the basis of price discount alone

YES Bank FPO: Don't judge it on the basis of price discount alone

bhola prasad

YES Bank’s Rs 15,000 crore follow-on public offer (FPO), which is set to hit the market on July 15, is priced at Rs 12-13 per share, a hefty 49-53 per cent discount to Friday's closing price of Rs 25.50. Though the discount suggests that there could some short-term gains, valuations are not significantly attractive.

Also, YES Bank’s asset quality concern, which could aggravate due to Covid-19-led economic disruptions, offer little comfort, say analysts. According to Deepak Jasani, head of research-retail at HDFC Securities, “YES Bank’s FPO pricing optically ...

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First Published: Mon, July 13 2020. 15:36 IST