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Carlyle Group sells Rs 1,056 crore worth stake in Yes Bank

According to data provided by BSE, Carlyle Group sold 1.35 percent stake in Yes Bank through open market transactions.

February 15, 2024 / 19:39 IST
CA Basque Investments, a Carlyle Group entity sold 390,000,000 shares in Yes Bank at an average price of Rs 27.10.
     
     
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    Carlyle Group sold equity stake worth Rs 1,056 crore in Yes Bank on the BSE on February 15.

    According to data provided by the BSE, Carlyle Group sold 1.35 percent stake in Yes Bank through open market transactions.

    CA Basque Investments, a Carlyle Group entity, sold 390,000,000 shares in Yes Bank at an average price of Rs 27.10. Carlyle Group sold Rs 1,056.9 crore worth of shares in Yes Bank.

    CA Basque Investments is a special purpose vehicle, is owned by CA Marans Investments, which is controlled by the funds managed by the affiliates of The Carlyle Group.

    Morgan Stanley Asia was the buyer, which acquired 306,305,668 shares in Yes Bank at the same price, translating to a stake worth Rs 830.08 crore.

    In December 2022, Carlyle Group had picked up 9.99 percent equity stake in Yes Bank at Rs 13.78. Til December 2023, they held 6.43 percent stake in Yes Bank and the current sale has brought the stake down to 5.08 percent.

    The stake sales came after Reserve Bank of India allowed HDFC Bank to acquire 9.5 percent stake in six banks including Yes Bank. HDFC Bank intends to invest in these banks through HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance.

    Yes Bank shares have gained 28.26 percent on a YTD basis. Shares of the private lender closed 1.22 percent higher than previous day's close at Rs 29.05 on the NSE.

    Moneycontrol News
    first published: Feb 15, 2024 07:31 pm

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