Carlyle, Advent to Buy Stake in Yes Bank for $1.1 Billion
Customers stand in line outside a Yes Bank branch in Mumbai, India, in 2020.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Yes Bank Ltd., an Indian private sector lender, is selling as much as 10% each to affiliates of Carlyle Group and Advent International to raise $1.1 billion in capital, the bank said in a stock exchange filing Friday.
The investors will subscribe to Yes Bank’s equity share sales worth $640 million and warrant issues for $475 million. Carlyle and Advent will have the right to nominate one member each to the bank’s board.