The private sector lender will allot 185 crore shares to Carlyle Group entity CA Basque Investments at Rs 13.78 per share, and 128 crore convertible warrants at Rs 14.82 per warrant, the lender said in a release. These warrants are convertible into 1 share each.
Similarly Advent International’s entity Verventa Holdings will get 185 crore shares at Rs 13.78 per share, and 128 crore convertible warrants at Rs 14.82 per warrant.
The share issue will translate into 5.9% stake each for both the PE firms in the private sector lender. Their stake will go up to around 10% after the conversion of the warrants.
In July, the lender had announced plans to raise $1.1 billion through sale of shares and convertible warrants to the two private equity firms. The fundraising will further boost YES Bank’s capital adequacy and help achieve the
growth objectives.
Ahead of the board meet, shares of Yes Bank saw a sharp run-up, as the scrip hit a 2-year high of Rs 24.35 on the National Stock Exchange. The stock ended 13.5% higher at Rs 23.95.
It has also got the consent for the appointments of Sunil Kaul and Shweta Jalan as additional directors on board.
Kaul is currently the managing director and financial services sector lead at Carlyle in Asia, while Jalan is the managing partner and India head for Advent International.
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