The Reserve Bank of India (RBI) has issued conditional approval to funds affiliated to global private equity investors Carlyle and Advent International with regard to the planned acquisition by each of them of 9.99 per cent of share capital of YES Bank.
“We hereby inform you that vide separate letters date November 30, 2022, the Reserve Bank of India (RBI) has issued a conditional approval to each Investor with respect to the proposed acquisition by each of them of up to 9.99 per cent of paid-up share capital of the bank through subscription to equity shares and share warrants of the bank and the investors are evaluating the conditions,” YES Bank informed stock exchanges on Thursday.
“The investors and the bank will engage with the RBI to seek an early resolution of the conditions to procure the final approval on this matter,” the bank