Carlyle Group may sell 2% stake in Yes Bank today

3 May 2024 , 09:26 AM

Carlyle Group, a global investment firm, is reportedly considering selling a 2% stake valued at approximately ₹1,500 Crore in Yes Bank through a block deal, according to sources familiar with the matter as reported by CNBC-TV18 on May 2.

The transaction is anticipated to be initiated today, with Goldman Sachs purportedly acting as the broker for the deal, as per additional information from the sources.

Currently, Carlyle holds an 8.74% stake in Yes Bank after converting warrants, with this stake being held through an entity known as CA Basque Investments.

On May 2, shares of Yes Bank concluded the trading session down nearly 3% at ₹25.44 per share on the BSE.

This prospective sale comes after Carlyle Group executed an open market transaction in February of this year, divesting equity valued at ₹1,056 Crore in Yes Bank. During this transaction, Carlyle sold 1.35% stake at an average price of ₹27.10 per share.

The US-based investment giant, through its affiliate CA Basque Investments, disposed of 39 Crore shares of the private sector lender on the BSE.

Notably, Carlyle Group initially acquired a 9.99% equity stake in Yes Bank back in 2022.