Carlyle Group likely to sell 2% stake worth Rs 1,500 crore in YES Bank via block deal on Friday: Report
Carlyle Group is mulling sale of its 2% stake in YES Bank via blockdeal. The size of the deal is estimated at Rs 1,500 crore and the block deal is expected on Friday.
Goldman Sachs is said to be the broker to the deal, CNBC TV18 reported citing its sources.
Carlyle Group holds 8.74% stake in this private lender through an entity named CA Basque Investments.
YES Bank shares on Thursday ended at Rs 25.40 on the NSE, down by Re 0.75 or 2.87% over Tuesday’s closing price. Markets were shut on Wednesday on account of Maharashtra Day.
In February, the global private equity major had sold a 1.4% stake in YES Bank, which was approximately worth Rs 1,057 crore. CA Basque Investments, the Mauritius-based special purpose vehicle, had then sold 39,00,00,000 shares of the lender at Rs 27.10 apiece.
YES Bank reported a standalone net profit of Rs 452 crore for the quarter ended March 31, 2024, up by a whopping 123% over Rs 202.43 crore reported by the lender in the year-ago period.
The lender earned interest income of Rs 7,447.17 crore, up from Rs 6,216.24 crore reported in the corresponding quarter of the last financial year. This was a 20% YoY jump.
Interest expended during the reported quarter stood at Rs 5,294.15 crore, which was up from Rs 4,111 crore. It was up 29% on the YoY basis.
For the full financial year, the standalone net profit stood at Rs 1,251 crore which is up from Rs 717.40 crore in Q3FY24. This is a 74% YoY jump over the last financial year. Total income for FY24 stood at Rs 32,700 crore which was up
