Yes Bank bulk deal: Carlyle group sells 2.6% stake in Yes Bank for ₹1,775 crore; stock down 10%
Global investment firm Carlyle group on Tuesday sold a 2.6 per cent stake in private sector lender Yes Bank for ₹ 1,775 crore through open market transactions.
The development comes after State Bank of India and seven other lenders last month announced that they will sell 20 per cent of their combined stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation for ₹ 13,483 crore.
US-based Carlyle, through its affiliate CA Basque Investments, sold a total of 82 crore shares, representing a 2.62 per cent stake in Mumbai-based Yes Bank on the NSE and BSE, as per the bulk deal data on the bourses.
The shares were disposed in the price range of ₹ 21.61-21.68 apiece, taking the combined transaction value to ₹ 1,774.89 crore.
After the share sale, Carlyle's arm CA Basque Investments' holding in Yes Bank declined to 4.22 per cent from 6.84 per cent.
Details of the buyers of Yes Bank's shares could not be ascertained on the BSE and the National Stock Exchange (NSE).
Shares of Yes Bank declined 10.40 per cent to close at ₹ 20.85 apiece on the BSE, and it fell 10.01 per cent to settle at ₹ 20.95 per piece on the NSE.
Last month, SBI and seven other lenders announced that they will sell 20 per cent of their combined stake in Yes Bank to Japan's SMBC for a consideration of ₹ 13,483 crore, making it the largest cross-border investment in the Indian banking sector.
Following the completion of the transaction, SMBC will become the single-largest shareholder of Mumbai-based Yes Bank.
Of the 20 per cent stake, SBI will dilute a 13.19 per cent stake in Yes Bank in favour of SMBC for a consideration of ₹ 8,889 crore, while 6.81 per cent shareholding will be offloaded by seven other lenders, including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank for about ₹ 4,594 crore.
SBI and the seven investor lenders had invested in the bank as part of the YES Bank Reconstruction Scheme in March 2020. Mumbai-headquartered SBI, which owned a 24 per cent stake in Yes Bank, will be left with a little over 10 per cent stake after the dilution.
SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc (SMFG). SMFG is the second largest banking group in Japan with total assets of USD 2 trillion as of December 2024 with strong global presence.
For the fourth quarter ended March 2025, Yes Bank reported a 63 per cent jump in standalone net profit at ₹ 738 crore as compared to ₹ 451.9 crore in the corresponding quarter a year ago.
In FY25, the bank's net profit doubled to ₹ 2,406 crore compared to ₹ 1,251 crore in the preceding fiscal year.
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