Global investment firm The Carlyle Group on Thursday (February 15) pared a 1.3% stake in private sector lender Yes Bank for ₹1,057 crore through an open market transaction. The US-based Group through its affiliate CA Basque Investments offloaded 39 crore shares of private sector lender Yes Bank on BSE.
According to the bulk deal data available with BSE, CA Basque Investments sold 39 crore shares amounting to a 1.35% stake in Yes Bank. The shares were disposed of at an average price of ₹27.10 apiece, taking the deal value to ₹1,056.90 crore.
Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 30.63 crore equity shares, representing a 1.06% stake in Yes Bank. The shares were purchased at the same price, taking the deal size to ₹830.08 crore.
After the latest transaction, Carlyle Group's shareholding has declined to 5.08% from a 6.43% stake in Yes Bank (as of December 2023). In 2022, CA Basque Investments picked around 9.99% stake in Yes Bank in a deal worth ₹4,450 crore at a price of ₹13.78 per share. The company has sold shares at around a two-fold premium as the stock has doubled since then.
The fund infusion was part of a total fundraising of $1.1 billion by Yes Bank from CA Basque and Advent International in July 2022. Yes Bank shares had rallied around 16% in the past month after the RBI approved HDFC Bank to acquire a stake in the private bank.
At the same time,
State Bank of India refuted reports that it was planning to divest its stake in the private lender. SBI held a total of 751.6 crore equity shares of Yes Bank, amounting to a 26.13% stake in the private lender, as of December 31, 2023. At the current market price, the stake is worth ₹21,570 crore.
Shares of Yes Bank Ltd ended at ₹29.01, up by ₹0.31, or 1.08% on the BSE.
First Published: Feb 15, 2024 11:43 AM IST
