Company Announcements

August 16, 2019

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Dear Sirs,

Sub.:   Qualified Institutions Placement of equity shares of face value ` 2 each by YES Bank Limited

With reference to our earlier letters dated August 08, 2019 and August 14, 2019, in relation to the captioned subject, we wish to inform you that the Capital Raising Committee of the Board of Directors of the Bank ("Committee") on August 15, 2019, approved the issue and allotment of 231,055,018 equity shares of face value ` 2 each to the eligible qualified institutional buyers at the issue price of ` 83.55 per Equity Share (which takes into account a discount of 4.95%), to the floor price of ` 87.90 per Equity Share, aggregating to ` 19,304,646,753.90 (Rupees One Thousand Nine Hundred Thirty Crore Forty Six Lacs Forty Six Thousand Seven Hundred Fifty Three and Ninety Paise Only).

A press release on the captioned subject is also attached herewith.

Kindly take note of the above.

The announcements made by the Bank can also be accessed at its website www.yesbank.in.

Thanking you,

Yours faithfully,

For YES BANK LIMITED

Shivanand R. Shettigar

Group Company Secretary 

PRESS RELEASE

YES BANK raises Rs. 1,930 crores through Qualified Institutions Placement (QIP) route

Mumbai, August 16, 2019: YES BANK, pursuant to the allotment of its equity shares on August 15, 2019, has raised Rs. 1930 crores through the Qualified Institution Placement (QIP) route. The QIP opened on August 08, 2019 and closed on August 14, 2019.

The Bank allotted 23.1 crores equity shares of face value of Rs. 2 each to eligible qualified institutional buyers (QIBs) at Rs 83.55 per Equity Share, in accordance with the pricing formula provided under Regulation 176(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The QIP increases the Bank's Total Capital Adequacy Ratio to 16.2%*, Tier I Ratio to 11.3%* and Core Equity Tier I Ratio to 8.6%*, ensuring that the Bank remains capitalized well above the regulatory limits. 

*Post QIP Issuance considering position as at June 30, 2019(including profits for the Q1FY20)

The issue saw strong response from foreign as well as from domestic QIBs. The overall allocation to foreign institutional investors is approximately 34% from USA/Europe, 40% from Asia, and balance from domestic insurance companies and mutual funds highlighting a well-diversified representation and demand from across the world. The QIP also enables a further diversification of the shareholder base of YES BANK.

CLSA India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Private Limited, Prime Securities Limited and YES Securities (India) Limited were the Global coordinators and Book Running Lead Managers to the QIP issue. The Legal Advisors to the transaction were AZB & Partners, Linklaters Singapore Pte. Ltd. and L&L Partners (formerly known as Luthra & Luthra Law Offices). The Statutory Auditors were BSR & Co LLP.

On the successful completion of the equity allotment, Ravneet Gill, Managing Director and CEO of YES BANK, said, "We are delighted with how our fund raise has been supported by marquee global and domestic investors. We maximised the size to the extent of the (up to) 10% dilution limit currently approved by our shareholders. The success of the QIP is extremely satisfying given the strong global and domestic headwinds and a credit environment beset with challenges. We see this as a strong endorsement by the investor community of the inherent strengths of the YES BANK franchise and its future growth prospects." 

Legal Disclaimer:  These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act").

The Securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States.

About YES BANK

YES BANK, India's fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a 'Full Service Commercial Bank' providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank's website at http://www.yesbank.in/

For any media queries, please contact:

YES BANK                                                                Adfactors

Swati Singh                                                                Jyothi Goswami

Email: swati.singh6@yesbank.in                            Email: jyothi@adfactorspr.com