In July, the private lender’s board had approved raising Rs 8,898 crores in equity capital from Carlyle and Advent International and they had the option of acquiring 10% stake each in the bank.
The Competition Commission of India said in separate statements that it has approved acquisition of 10% stake each by CA Basque Investments (controlled by the funds managed by the affiliates of The Carlyle Group) and by Verventa Holdings of Yes Bank.
The Commission approved the Proposed Combination relating to the acquisition of equity securities amounting to up to 10% of the total paid up share capital and voting rights of Yes Bank by the acquirers.
This could be one of the largest private capital raises by an Indian private lender and Yes Bank had said the funds will help it achieve its medium- to long-term sustainable growth goals and boost capital adequacy.
The bank had proposed to issue up to 1.84 billion equity shares each to Carlyle and Verventa at Rs 13.78 per share.
