Carlyle Group sells 1.4% stake in YES Bank via open market for over Rs 1,000 crore
Carlyle Group on Thursday sold a 1.4% stake in private sector lender YES Bank for approximately Rs 1,057 crore.
CA Basque Investments, the Mauritius-based special purpose vehicle owned by Carlyle Group, sold 39,00,00,000 shares of the lender at Rs 27.10 a share, bulk deals data on the BSE showed.
CA Basque is an SPV and fully owned by CA Marans Investments (Mauritius), which is ultimately controlled by the funds managed by the affiliates of The Carlyle Group Inc.
The private equity firm held a 6.43% stake in YES Bank as of December- end. On Thursday, shares of YES Bank ended 1.2% higher on the National Stock Exchange at Rs 29.05.
In July 2022, YES Bank had raised over $1.1 billion by selling a 10% stake to PE firms Carlyle Group and Advent International.
This was one of the largest private capital raised by an Indian private sector bank and helped in bolstering YES Bank’s balance sheet.
As of December end, the capital adequacy ratio under Basel III norms for the bank stood at 16%, compared to 18% a year ago, and 17.1% a quarter ago.
For the December quarter, YES Bank reported robust growth in profit, which surged more than four times year-on-year (YoY) to Rs 231 crore. Provisions dropped sharply to Rs 555 crore from Rs 845 crore a year ago, which aided the bottomline.
Meanwhile, Morgan Stanley Asia Singapore Pte bought 30,63,05,668 shares or 1.1% in the lender through a separate bulk deal for Rs 830 crore.
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