Carlyle Group Offloads ₹1,056 Crore Stake in Yes Bank

16 Feb 2024 , 10:04 AM

Carlyle Group sold a ₹1,056 Crore equity stake in Yes Bank on the BSE on February 15. The sale constituted 1.35% of Yes Bank’s stake through open market transactions. CA Basque Investments, a Carlyle Group entity, executed the sale of 390,000,000 shares in Yes Bank at an average price of ₹27.10.

Carlyle Group’s total sale amounted to ₹1,056.9 Crore, and CA Basque Investments is a special purpose vehicle owned by CA Marans Investments, controlled by Carlyle Group’s affiliate funds.

Morgan Stanley Asia emerged as the buyer, acquiring 306,305,668 shares in Yes Bank at the same price, translating to a stake worth ₹830.08 crore.

In December 2022, Carlyle Group acquired a 9.99% equity stake in Yes Bank at ₹13.78. By December 2023, their stake had reduced to 6.43%, and the recent sale brought it down to 5.08%.

The stake sales followed the Reserve Bank of India’s approval for HDFC Bank to acquire a 9.5% stake in six banks, including Yes Bank, with investment through HDFC Asset Management Company (AMC), HDFC Ergo, and HDFC Life Insurance.

Yes Bank shares have gained 28.26% on a year-to-date basis, closing 1.22% higher at ₹29.05 on the NSE. Yes Bank, founded in 2004 by Rana Kapoor and Ashok Kapoor, is headquartered in Mumbai, India.

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