Carlyle, Advent get conditional nod from RBI for 9.99% in Yes Bank

Private equity majors The Carlyle Group and Advent have got the Reserve Bank's nod to own up to 9.99 per cent in Yes Bank, the private sector lender said on Thursday.

The two PE funds in July this year expressed an intent to pump-in over Rs 8,000 crore in Yes Bank subject to regulatory permissions. Regulatory nod is required for owning over 5 per cent in a bank.

In a stock exchange filing, Yes Bank said through separate letters on November 30, RBI has given conditional approval for both the funds to own 9.99 per cent of the paid-up share capital of the lender by subscribing to equity shares and share warrants.

the investors (Carlyle and Advent) are evaluating the conditions. The investors and the bank will engage with the RBI to seek an early resolution of the conditions to procure the final approval on this matter, the statement added.

Yes Bank had to be bailed out by fellow lenders in a RBI-led scheme in 2020, after alleged malfeasance by its founders led to a huge chunk of loans