As of 12:02 PM IST, the bank’s shares were trading up 3.8% at Rs 15.13 on BSE.
The board may consider private equity investment proposals, sources told CNBC-TV18.
Carlyle and Advent are considering up to 10% stake each, they said. Additionally, Carlyle and Advent are seeking board nominations as part of the funding, they added.
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Yes Bank, Advent and Carlyle declined to comment on the deal.
It was reported that Carlyle and Advent would consider a seat on the board as part of the investments. Yes Bank amended its bylaws to accommodate the appointments, CNBC-TV18 reported.
On Friday evening, Yes Bank approved the sale of securities worth Rs 8,898 crore to global private equity players Carlyle and Advent Groups. At its meeting on Friday, the bank’s board decided to issue over 369.61 crores of shares and 256.75 crores of warrants.
These securities will be issued on a preferential basis for a total amount of Rs 8,898.47 crore, according to a regulatory filing. The shares will be offered at Rs 13.78 each while the warrants exchangeable into shares are to be issued at Rs 14.82 each. The par value of these shares is Rs 2 each.
First post: STI
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