Block Deal Alert | Carlyle Group likely to sell stake worth ₹1,500 crore in YES Bank tomorrow

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Private equity giant Carlyle Group is likely to offload a significant chunk of its stake worth ₹1,500 crore in private lender YES Bank through a block deal scheduled for tomorrow (May 3), sources privy to the developments told CNBC-TV18.

Carlyle, holding an 8.74% stake in YES Bank post-warrant conversion, is reportedly planning the stake sale through an entity named CA BASQUE INVESTMENTS, sources told CNBC-TV18. According to multiple people familiar with the development, Goldman Sachs is likely to be the broker of this deal.

YES Bank reported its earnings for the March quarter. Its net profit came in at ₹454 crore, 124.3% more than the ₹202.4 crore reported in the corresponding period in the previous fiscal. The lender’s net interest income was up 2.3% at ₹2,153.1 crore compared to the fourth quarter of FY23’s ₹2,105.2 crore.

The bank’s gross non-performing assets (NPA) were down 11% at ₹3,982 crore in the March quarter compared to the previous quarter’s ₹4,457.4 crore. The gross NPA% for the fourth quarter was pegged at 1.7% compared to the December quarter’s 2%.

It also reported a 31.4% decline in net NPA at ₹1,329.7 crore in the fourth quarter compared to the ₹1,934.4 crore in the third quarter of the 2023-24 fiscal year. Its net NPA% was at 0.60% compared to the previous quarter’s 0.9%, reflecting improved asset quality metrics.

Shares of Yes Bank Ltd ended at ₹25.44, down by ₹0.73, or 2.79% on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow