Mumbai, July 12: Yes Bank today made a sparkling debut on the Bombay Stock Exchange (BSE) with an opening share price of Rs 65. This represented a 44 per cent premium to its issue price of Rs 45 a share.

Riding on the equity market’s strong interest in banking shares, the Yes Bank scrip soon shot to an intra-day high of Rs 70 on the bourse, a 55 per cent premium to its issue price. However, the counter closed the day at Rs 60.80.

Yes Bank was the second top-traded counter in the B1 group with 261.41 lakh shares changing hands on its debut day, yielding a turnover Rs 162.37 crore.

The bank had raised Rs 351 crore from its maiden public issue that closed on June 21. The IPO was lapped up by investors ? over 2.57 lakh bids were received with the institutional buyers over-subscribing more than 30 times, non-institutional investors over 46 times and the retail investors clamouring for more than 10 times the number of shares allotted for them. The issue consisted of 70 million shares at a price band of Rs 38-45.

Market circles said investor interest in the Yes Bank shares mirrored their sentiments with other banking scrips. Banking scrips, particularly the private banks, have recently surged ahead amid expectations of strong growth in retail credit.

On Monday, Centurion Bank announced a 251 per cent growth in net profit for the first quarter ended June 30.

Yes Bank came out with the IPO to augment its long-term capital requirements for implementing growth plans and increasing the capital base.

The bank is promoted by Rana Kapoor and Ashok Kapur, who had a pre-offering shareholding of 52.1 per cent together.