Yes Bank to sell 10% stake to Carlyle, Advent for Rs 8,898 cr

Yes Bank board on Friday approved proposal to raise equity capital from Carlyle Group and Advent International. The bank’s board also approved increase in authorised share capital to Rs 8,200 crore from Rs 6,200 crore currently.

The private lender will raise Rs 8,898.47 crore worth equity from the two investors. Funds affiliated with Carlyle and Advent International, CA Basque and Verventa Holdings respectively, will potentially acquire up to 10% stake in the bank.

Yes Bank will cumulatively issue 3.69 billion equity shares at a price of Rs 13.78 per share to both investors.

Yes Bank will issue up to 1.84 billion equity shares to Carlyle at Rs 13.78 per share.

The lender will also cumulatively issue 2.56 billion share warrants at a price of Rs 14.82 per warrant to both investors.

The lender’s Board of Directors has approved the convening of an extraordinary general meeting of the shareholders of the bank on August 24, 2022 to increase the authorised share capital of the bank, amendment to the Articles of Association of the Bank, appointment of R Gandhi as independent director.