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HomeNewsBusinessYes Bank is in charge of Carlyle and Advent’s USD 1.1 billion...

Yes Bank is in charge of Carlyle and Advent’s USD 1.1 billion contribution

After more than three years of trials and tribulations in fundraising, Yes Bank on Friday invested $1.115 billion (roughly Rs.8.9 trillion) in private equity funds Carlyle and Advent International to fuel future growth announced. Both global PE funds each get 10% of private lenders. This had to be rescued with an RBI government-led recovery program due to a lack of capital buffers and the inability of management at the time to sell the bank’s story to investors.

The announcement comes within two weeks of announcing JC Flowers Asset Reconstruction Company as the prime bidder for the liquidation of Rs 48,000 of unexploded ordnance that the bank currently holds on its books from 14%. In March 2020 he was appointed captain of Yes Bank in his SBI career, his manager, Mr. Prashant Kumar, said the lender will open after one of the largest capital increases for his Indian private bank. He said he is excited about additional growth opportunities. Bigger competitor Axis Bank raised its 11,000 kroner (around US$1.35 billion) in 2020.

In a statement, the bank said that $640 million or Rs.5.1 billion was raised through the issuance of new shares and $475 million or Rs.3.8 billion was raised through stock acquisition rights. As part of a capital raising, the second largest among private sector lenders, the Bank will preferentially issue 370 billion shares at a price of Rs 13.78 per share and 257 billion warrants at a fixed price. converts to From Rs 14.82 per warrant. Yes Bank’s share rose 2.47% on the BSE to close at Rs 14.94 per share. Benchmark Sensex is up 1.25%.

Mr. Kumar has previously revealed that there are huge piles of bad assets. Most of that was wagered on corporate loans taken under his co-founder and CEO, Rana Kapoor, who is currently in jail for cheating. He receives growth capital. Merchant his banker also said the presence of a large amount of NPA inventory was a major stumbling block for the bank, and being clear about it helped boost investor confidence in the deal. They also said PEs are sitting in cash waiting for a suitable opportunity, and so far have seen things like their inability to hold significant shares due to caps imposed by regulators and lack of real opportunities.

He added that he faces the challenge of Sunil Kaul, Managing Director of Carlyle, said Yes Bank is well-positioned to capitalize on the growth opportunities presented by India’s strength in transaction banking and digital payments, which handles one-third of his total UPI transaction volume.

News Summary:

  • Yes Bank is in charge of Carlyle and Advent’s USD 1.1 billion contribution
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