Shares of YES Bank Ltd will be in focus on Friday morning after bulk deals data showed a Carlyle Group entity sold equity stake worth Rs 1,056.90 crore in the private bank through open market transaction. The entity CA Basque Investments sold 3,90,000,000 YES Bank shares, or 1.35 per cent stake, at an average price of Rs 27.10 per share, BSE bulk deal data showed.
The Carlyle Group entity owned 1,84,80,77,851 YES Bank shares, or 6.43 per cent stake, as of December 31. Its holding in the private bank has now fallen to 5.08 per cent.
Morgan Stanley Asia (Singapore) PTE was seen buying 306,305,668 shares at Rs 27.10 a piece worth Rs 830 crore, as per BSE bulk deals.
To call, YES Bank's board had in 2022 approved allotment of shares and warrants to US private equity firms Carlyle Group and Advent International and suggested appointed of a nominee each from the PE firms as additional directors on its board. Together the two equity funds had bought 9.9 per cent stake in the bank.
YES Bank shares were recently in news amid reports that SBI was looking to sell stake in the bank. The lender however denied the report, calling it speculative in nature.
"The bank is not involved in any negotiations with respect to the subject of the news. Hence, the Bank is unable to comment on the said article and its impact. Further, we would like to clarify that presently, there are no material events which are required to be disclosed under Regulation 30 of the Listing Regulations," YES Bank had said.
Later, SBI also called the media report as factually incorrect. SBI said: "Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with reference to the news item appeared in the ‘Website www .moneycontrol. com’ dated 08.02.2024 captioned ‘SBI likely to sell shares in Yes Bank via block deal’, we submit that the news item published in ‘www.moneycontrol’ dated 08.02.2024 is factually incorrect."
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