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Aditya Puri is a senior advisor to the Carlyle Group's Asia private equity team. Puri was the CEO and managing director of HDFC Bank from its inception in 1994 until October 2020. Over his 26 tenure leading the business, Puri grew HDFC Bank into the largest private sector bank in India with over $210 billion of assets (as of 30 September 2020), and the most valuable bank in India with a market cap of over $90 billion (as of October 2020).
The media reported that Yes Bank MD and CEO Prashant Kumar will continue to lead the bank, post the deal.
Yes Bank on 29 July 2022 announced raising equity capital of about $1.1 billion (~Rs 8,900 crore) from funds affiliated with two global private equity investors - Carlyle and Advent International, with each investor potentially acquiring upto a 10.0% stake in Yes Bank. This will be raised through a combination of ~$640 million (~Rs 5,100 crore) in equity shares and ~$475 million (~Rs 3,800 crore) through equity share warrants.
The capital raise will further bolster the capital adequacy of Yes Bank and aid the bank's medium to long term sustainable growth objectives. Once approved, this would be one of the largest private capital raises by an Indian private sector bank.
The bank proposes to issue about 370 crore equity shares on a preferential basis at a price of Rs 13.78 per share and about 257 crore warrants convertible into equity shares at a price of Rs 14.82 per warrant, adding ~Rs 8,900 crore to the equity capital base of the bank.
The capital raise is subject to shareholders' approval at the EGM of the bank to be held on 24 August 2022 and relevant regulatory/statutory approvals.
Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions.
Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 395 private equity investments across 41 countries, and as of 31 March 2022, had $75.9 billion in assets under management.
Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to retail, MSME as well as corporate clients.
The bank reported 50.2% jump in standalone net profit to Rs 310.63 crore on 9.7% increase in total income to Rs 5,916.28 crore in Q1 FY23 over Q1 FY22.
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