YES Bank gets conditional approval for stake sale to The Carlyle Group and Advent

YES Bank Ltd had earlier announced regarding proposed investment by CA Basque Investments (CA Basque Investments is part of the group of entities doing business globally as 'The Carlyle Group') and Verventa Holdings Limited (affiliate of funds advised / managed by Advent) (each, an "Investor" and collectively, the "Investors") in the equity shares of face value Rs. 2 (Rupees Two only) each and share warrants of Yes Bank Limited (the "Bank" and together with the foregoing, the "Subscription Securities").

Further to the Reserve Bank of India, issuing a conditional approval to each Investor with respect to the proposed acquisition by each of them of up to 9.99% of paid up share capital of the Bank through subscription to equity shares and share warrants of the Bank vide separate letters dated November 30, 2022, we wish to hereby inform that the Bank is now in receipt of two further letters (separate to each investor) from the RBI in relation to the proposed investment. Pursuant to which, the Bank shall now engage with the Investors for the completion of the proposed capital raise, subject to various regulatory compliances and conditions precedent as per the respective Investment Agreements.

Shares of Yes Bank Limited was last trading in BSE at Rs. 17.75 as compared to the previous close of Rs. 17.45. The total number of shares traded during the day was 15945540 in over 12534 trades.

The stock hit an intraday high of Rs. 17.80 and intraday low of 17.45. The net turnover during the day was Rs. 281365407.00.

Source : Equity Bulls

Keywords

YesBank INE528G01035 RBI ConditionalApproval TheCarlyleGroup Advent