Private Equity

PE Fund Investments

Yes Bank to raise Rs.8,900-Cr from Advent, Carlyle

Press Release  

Publicly-listed Yes Bank is to raise USD 1.1 Billion (about INR 8,900 crore) from global private equity investors Carlyle and Advent International, with each investor acquiring a 10% stake. Of the investment, USD 640 million (INR 5,100 crore) would be made via acquisition of equity shares and USD 475 million (INR 3,800 crore), via equity share warrants. Yes Bank will issue about 370 crore equity shares on a preferential basis at a price of INR 13.78 per share and about 257 crore warrants convertible into equity shares at a price of INR 14.82 per warrant. BofA Securities acted as the exclusive financial adviser and AZB & Partners acted as the legal advisor to Yes Bank. Shardul Amarchand Mangaldas was the legal advisor to Carlyle, while Cyril Amarchand Mangaldas advised Advent International.