YES Bank completes largest-ever private sector QIP

Second time lucky for YES Bank as it completes an upsized $750 million offering.
YES Bank founder Rana Kapoor
YES Bank founder Rana Kapoor

YES Bank, India's fifth largest bank by assets, redeemed its capital markets reputation on Friday when it completed an upsized $750 million Qualified Institutional Placement QIP.

The 4,906 crore transaction just pipped Reliance Communications to the post as the largest-ever private sector QIP from India in rupee terms. The Anil Ambani-led group had previously completed a 4,800 crore deal in June 2014, while Axis Bank, India’s largest private sector bank by assets, is now third in the rankings with a 4,726 crore deal from January 2013.

YES Bank’s management are likely to feel particularly satisfied with the new deal, given the messy execution of...

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