Carlyle Group offloads 2.6% in Yes Bank for ₹1,775 Cr; stock slides over 10%
In a major open market transaction on Tuesday, U.S.-based private equity firm Carlyle Group, through its affiliate CA Basque Investments, sold a 2.6% stake in Yes Bank worth ₹1,775 crore. The transaction involved the offloading of 82 crore shares at a price range of ₹21.61 to ₹21.68 apiece on the NSE and BSE.
This stake reduction has brought Carlyle's holding in the Mumbai-based private sector bank down from 6.84% to 4.22%.
Despite this high-value transaction, Yes Bank's shares took a hit — falling 10.40% to ₹20.85 on the BSE and 10.01% to ₹20.95 on the NSE.
The sale comes shortly after State Bank of India (SBI) and seven other banks announced their intent to divest a 20% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC) for ₹13,483 crore — the largest cross-border deal in Indian banking to date.
Of this, SBI will offload 13.19% of its holdings for ₹8,889 crore, reducing its stake from 24% to just over 10%. The remaining 6.81% will be divested by Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank, amounting to ₹4,594 crore.
SMBC, a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG) — Japan's second-largest banking group with $2 trillion in assets — will emerge as the single-largest shareholder of Yes Bank post-transaction.
Meanwhile, Yes Bank continues to show robust financials. For Q4 FY25, the bank reported a 63% jump in standalone net profit at ₹738 crore, compared to ₹451.9 crore in Q4 FY24. Annual net profit for FY25 more than doubled to ₹2,406 crore from ₹1,251 crore a year earlier.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
19 minutes ago
- Hans India
PhysicsWallah's acquisition of Drishti IAS called off: Report
New Delhi: The much-talked-about acquisition of UPSC coaching institute Drishti IAS by edtech unicorn PhysicsWallah has reportedly been called off. The deal was in advanced stages but ultimately fell through due to multiple reasons, according to a report by Entrackr. In April this year, multiple reports said that PhysicsWallah was actively exploring acquisitions to strengthen its position in the civil services preparation segment. The proposed acquisition of Drishti IAS was estimated to be worth between Rs 2,500 and Rs 3,000 crore. Drishti IAS, a well-known name in UPSC coaching, especially among Hindi-medium aspirants, was one of the leading players being considered by PhysicsWallah, along with other institutes like Chaitanya Academy, Rau's IAS Study Circle, and Sarrthi IAS. According to the report, Drishti IAS evaluated the proposal after being approached by PhysicsWallah. However, considering its strong financial performance and independent growth, the company decided not to go ahead with the deal. The report added that Drishti IAS is currently not looking to raise external funds or be acquired. Founded in 1999, Drishti IAS has built a strong presence in the civil services coaching space. In the financial year 2023–24, the Delhi-based institute reported revenue of Rs 405 crore and a profit after tax of Rs 90 crore. The report indicate that the institute is also expected to post healthy growth in FY25. PhysicsWallah, originally focussed on online coaching for engineering and medical entrance exams, has recently been expanding into UPSC and other competitive exams. The acquisition of Drishti IAS was seen as a strategic step to strengthen its offline footprint and diversify its educational offerings -- particularly ahead of its planned stock market debut. However, as of now, both PhysicsWallah and Drishti IAS have not officially responded to the matter. Meanwhile, reports indicate that PhysicsWallah filed its draft IPO papers confidentially in March 2025, aiming to raise around Rs 4,600 crore. If successful, it will become the first Indian edtech unicorn to be listed on the stock exchange.
Mint
21 minutes ago
- Mint
RBI governor Malhotra says IndusInd Bank doing well, shares jump 5%
Mumbai: The Reserve Bank of India (RBI) on Friday said IndusInd Bank has taken sufficient steps to address improve its accounting practices, with governor Sanjay Malhotra noting that the bank is doing well overall. The remarks signalled regulatory comfort with the lender's actions so far, pushing its shares up over 5%. The RBI's comments come nearly three months after IndusInd Bank disclosed issues in its derivatives book, which triggered a 27% crash in its shares. Since then, the bank has seen the exit of top executives and faced scrutiny from both the central bank and the capital markets regulator Securities and Exchange Board of India (Sebi). 'The MD & CEO has resigned and it says for taking moral responsibility. So, I thought that should be good enough,' Malhotra said at the post-policy conference. Reacting to the statement, IndusInd Bank's share hit an intraday high of ₹ 845.9 apiece on the BSE, up 5.3%, according to Bloomberg data. The stock remains 8.6% below its close of 10 March, the day the lender acknowledged the derivatives discrepancies. The broader BSE Bankex index has risen 15% over the same period. When asked about broader board accountability, Malhotra said, 'Do you expect all the board members…what are you hinting at? The MD & CEO, who is also a member of the board—if he has taken responsibility, that is at the board level itself.' IndusInd Bank is in the middle of a management transition, following the exit of deputy chief executive Arun Khurana—two days after a report by Grant Thornton on the derivatives lapses—and the resignation of chief executive Sumant Kathpalia before a successor was found. On 21 May, IndusInd Bank chairman Sunil Mehta said the board was not informed of the discrepancies and that it acted swiftly once they came to light. However, a Sebi probe found the bank had engaged KPMG to review the issues as early as 29 January 2024, well before it disclosed the matter to stock exchanges on 10 March 2025, Mint reported on 31 May. 'Normally we do not comment on individual banks," Malhotra said. "The banking system is very robust and I also mentioned these episodes will happen and should not bother us too much as long as they are far and few between and limited.' Deputy governor Swaminathan J said the bank had complied with all the requirements set by the RBI. The first was to ensure proper accounting of all discrepancies, backed by internal and external audits, and reflected in the March quarter results. The second was to conduct a forensic audit and hold those responsible to account. The third priority, Swaminathan said, was to ensure that no customer suffered losses or inconvenience. Each of these crises offers RBI some lessons and it sharpens the supervisory tools, he said. 'Going forward, we will look at these kinds of red flags so that we are in a position to anticipate them much in advance. If not immediately but very soon it should settle down and then be back to normal.' Last week, Sebi barred former MD & CEO Sumant Kathpalia and four other senior executives from the market and impounded gains of ₹ 19.78 crore, alleging they sold shares while in possession of unpublished price-sensitive information.
Time of India
22 minutes ago
- Time of India
Mini Cooper Countryman E JCW Pack launched in India at Rs 62 lakh: Limited to just 20 units!
Mini India has launched the new Mini Cooper Countryman JCW pack in the Indian market. The electric SUV is priced at Rs 62 lakh (ex-showroom) and will be bought in India via the CBU route. The Mini Countryman JCW pack is limited to just 20 units, interested customers can book it online or by visiting their nearest dealership. The booking amount is set at Rs 1.5 lakh and the deliveries will begin from June 10, 2025. The JCW pack brings a performance-inspired styling upgrade to both its exterior and interior. It is available in two colour options—Midnight Black and Legend Grey—the latter distinguished by black sport stripes. Exterior highlights include a checkered motif across the front grille and bumper, referencing Mini's motorsport roots. Blacked-out alloy wheels, enhanced side skirts, a sportier rear spoiler, and door sills complete the look. It also features JCW badges with a checkered flag motif on the C-pillar and near the charging port. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Device Made My Power Bill Drop Overnight elecTrick - Save upto 80% on Power Bill Pre-Order Undo Moving Inside, it gets a JCW-branded steering wheel featuring a boost mode button, along with sports seats, dark upholstery, and red trim accents across the dashboard. In terms of features, it gets a 9.4-inch round OLED infotainment system, Apple CarPlay/ Android Auto, connected car tech, a Harman Kardon audio system, wireless phone charging, powered front seats, a panoramic sunroof, customizable ambient lighting and more. Safety features include multiple airbags, ABS, tyre pressure monitoring, a rear-view camera, and Level 2 ADAS features. Defender's most Towering version: India plans, electric Defender and more | TOI Auto Talking about the battery and e-motor, it gets a 66.45 kWh battery pack paired with an electric motor which puts out 204 hp and 250 Nm of peak torque. It has a WLTP range of 462 km on a single charge. It accelerates from 0 to 100 km/h in 8.6 seconds and has a top speed of 170 km/h. Using a 130 kW DC charger, the battery pack can be charged from 0-80 percent in just under half an hour and a full charge from 0 to 100 percent with an 11kW AC charger takes approximately 6.4 hours. Discover everything about the automotive world at Times of India .
