Yes Bank to allot shares, warrants to Carlyle Group and Advent International
1 min read . Updated: 13 Dec 2022, 09:12 PM IST
Premium- Sunil Kaul and Shweta Jalan will be added as additional directors on the Yes Bank board
Private sector lender Yes Bank on Tuesday said its board has approved allotment of 361.61 crore equity shares and 255.97 crore warrants to private equity majors -- The Carlyle Group and Advent -- following the Reserve Bank of India's nod for the same.
The two PE funds in July this year expressed an intent to pump-in over ₹8,000 crore in Yes Bank subject to regulatory permissions. Regulatory nod is required for owning over 5% in a bank.
In a stock exchange filing, Yes Bank said, "Allotment of a total of 369,61,55,702 (Three Hundred Sixty Nine Crore Sixty One Lakh Fifty Five Thousand Seven Hundred and Two) equity shares of face value Rs. 2 /- (Rupees Two only) each and 255,97,61,818 (Two Hundred Fifty Five Crore Ninety Seven Lakh Sixty One Thousand Eight Hundred and Eighteen) share warrants convertible into equity shares of face value Rs. 2 /- (Rupees Two only) each on a preferential basis to CA Basque Investments (“Investor I") and Verventa Holdings Limited (“Investor II")."
The bank will issue 184.8 crore shares to Carlyle Group entity CA Basque Investments at ₹13.78 per share, and 127.98 crore convertible warrants at ₹14.82 per warrant. These warrants are convertible into 1 share each.
Similarly, Advent International's entity Verventa Holdings will get 184.8 crore shares at ₹13.78 per share, and 127.98 crore convertible warrants at ₹14.82 per warrant.
Sunil Kaul and Shweta Jalan will be added as additional directors on the Yes Bank board.
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Shares of Yes Bank closed 13.78% higher at ₹23.95 apiece on the BSE on Tuesday.
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