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Private sector lender Yes Bank said on December 1 that its planned stake sale to Carlyle Group and Advent International has received conditional approval from the Reserve Bank of India.
In an exchange filing, Yes Bank said: “In relation to the 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) in the equity shares of face value Rs 2 (Rupees Two only) each and share warrants of Yes Bank Limited, we hereby inform you that vide separate letters date November 30, 2022, the Reserve Bank of India has issued 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 and the Investors are evaluating the conditions.”
It added: “The investors and the bank will engage with the RBI to seek an early resolution of the conditions to procure the final approval on this matter.”
