YES Bank completes largest-ever private sector QIP

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...