Yes bank: Follow-on Public Offer (FPO)

In an Initial Public Offering (IPO), a company offers its shares to the public for the first time. However, when an already listed company offers its shares to the public, the issue is called a Follow-on Public Offer (FPO).

Like an IPO, this issue can be in the form of new shares or an offer for sale from the promoter or major investor group. Yes Bank is issuing new shares to raise additional capital. The bank is expected to raise about 15,000 crores in this issue. You can refer to the FPO Prospectus for details.

The issue price range is Rs 12 to Rs 13 and you can apply in multiples of 1000 shares. The maximum application amount for a retail investor is Rs 2 lacs. Therefore, you can apply for up to 15 lots of 1000 shares each at the cut-off price of Rs 13.

Indicative timetable

Event date
Issue Period July 15th to July 17th
Finalisation of allotment July 22nd
Initiation of Refunds July 23rd
Credit of shares July 24th
Listing July 27th
Mandate end date Yet to be confirmed

How do I apply for the Yes Bank FPO?

You can apply for the Yes Bank FPO on Console using any supported UPI app. The FPO will be available on Console when the issue opens on July 15th.

Once you have entered your bid on Console, you will receive a mandate collect request on your UPI app. On acceptance of the mandate, the bid amount will get blocked in your bank account. The process to apply is the same as it is for an IPO. Read more.

Will the shares allotted in the FPO be locked in?

No, the shares allotted in the FPO will not be locked in. You will be able to freely sell these shares of Yes bank.

Is there any discount available for retail investors or existing shareholders?

No, there isn’t a discount for retail investors or existing shareholders. A discount of Re 1 for employees of Yes bank has been fixed by the board of the company - check here. Employees who seek to apply in the reserved category to avail the discount will only be able to use Net banking ASBA.

Will my buy average price be affected?

Your buy average price will be affected only if you apply for the issue and get allotment. It will be calculated on FIFO basis.

How do I decide the price at which I should apply?

You are more likely to receive allotment if you apply at the cut-off (market price) or the highest price in the band. If the cut-off is lower than the price you have selected, you will automatically get allotment at the lower price. In a book-building issue like this, if you make an application at Rs 13, but the cut-off price is at Rs 12, you will get the allotment at Rs 12 for the quantity you specified.

Does this mean the price of Yes bank will fall to Rs 13 when the FPO shares are listed?

It is possible that the share price of Yes bank could reduce from the Current Market Price (CMP) of around Rs 25 since the current holdings will be diluted by the issue of new shares in the FPO. However, it is difficult to assign a value on how much discount the market could be expecting in the CMP. On Friday, July 10th, 2020, traders were willing to borrow shares of Yes bank around Rs 8 each and to short sell them at the CMP which means they might be expecting the price to fall to around Rs 17.

You can check the Securities Leding and Borrowing (SLB) Rate here on NSE’s website.


Hello Guys,

This upcoming Yes bank FPO have any lock-in period or anything? where can we get the info. on

there’s no such info just opening date, price and lot size. there’s no other details on the same.



The shares alloted in the FPO will not be locked in. You will be able to freely sell them on listing.


Price in FPO is set to 12rs… does this mean… share price of Yes bank will drop to 12rs? @Karthik @nithin


Thanks for quick response. could you also share the source where can retailers find this information?

Also, is this listing going to be like reliance right issue? will be with unique ISIN code and name or it’s same as existing ISIN code and will not be listed separately with different name?

I have hold shares and average rs50. What should I do,? Will loss my money after FPO?

you can either sell at CMP or try and buy in FPO to average further and then sell all the shares as your breakeven will go down further. choice is yours. no one can tell what the price is going to be after the FPO so you’ve to take calculated decision as per your risk capacity.

1 Like

As per your articles; SLB is allowed only for fno stocks .
Yesbank is no more in fno .
Then how is this possible that yesbank is trading at SLB platform?

The exchange periodically updates the list of securities eligible for SLB. You can follow the list here:


I wasn’t able to find the circular where the eligibility criteria or the revision of eligibility is detailed. You might be able to go through the NSE master circular for this year to find it.

How is the volume turnover liquidity in SLB platform .

I checked on nse website.


I find zero nil .

I read in 1 of the articles that zerodha has stopped allowing SLB facility. Is it true ?

You can check here on the updated NSE website.

SLB is not available on Kite. We are working on making it available.

Get the details of Yes Bank FPO here:

I saw your image wherein i see the volume mentioned therein . But when i click your link and check the exchange website wherein i find zero nil volume .

Can u pls clarify?

Search for ‘Yes Bank Limited’ and hit filter, you will see the volume and other details.

Any advice on this FPO? Should one go for it?

Why do you have to make money by averaging in same stock ?

If price is at a high point book, and re-invest in a dip in some other growth stock.

what incentive does Yesbank offer to go to 100 also ? when SBI itself is stuck in a decade old range and they’re holding controlling stake. It has become a sarkari bank now.

@mohitmehra Does the shares purchased in FPO will get averaged out with the shares I already held in my DEMAT account? Does the new shares purchased in FPO will show up with any other name like in rights issue in the portfolio or the same old stock symbol…Please clarify as I am buying for the first time from FPO…Thank you


can you tell why do we get 3 options to write the prices to apply for IPO?

@mohitmehra I transfer funds to zerodha through Oriental Bank of Commerce and also do not have a UPI but when I opened the Rossari IPO(just example), it is not showing any option on how to make payment through my bank. Kindly suggest me how can I apply for Yes Bank FPO. And at what time the bidding will be started. Thanks