Carlyle Group set to offload 2% stake in Yes Bank through block deal

Carlyle Group is reportedly gearing up to divest a 2% stake valued at Rs 1,500 crore in Yes Bank through a block deal, sources informed CNBC-TV18 on May 2. The transaction, expected to be initiated the following day, is facilitated by Goldman Sachs.

Currently, Carlyle holds an 8.74% stake in Yes Bank, post the conversion of warrants, under the entity CA Basque Investments. Yes Bank's shares concluded the day down by almost 3%, settling at Rs 25.44 each on the BSE.

This move comes after Carlyle Group's earlier divestment in February this year, where it sold equity valued at Rs 1,056 crore in Yes Bank through open market transactions. In that instance, Carlyle sold a 1.35% stake at an average price of Rs 27.10 per share. The US-based investment firm had initially acquired a 9.99% equity stake in Yes Bank back in 2022.

With these strategic maneuvers, Carlyle continues to adjust its holdings in Yes Bank, reflecting evolving market dynamics and investment strategies.