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PE firm Advent eyeing $1 billion investment in India’s Yes Bank

by Mike Robinson

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© Reuters. FILE PHOTO – The Yes Bank logo is displayed on Mumbai’s main building, India. Photograph taken January 17, 2018, REUTERS/Danish Siddiqui

BENGALURU, Reuters – A 75 billion rupee investment ($1.00 Billion) in India’s Yes Bank is being evaluated by private equity firm Advent International, according to Friday’s Economic Times. This sent shares of the private sector lender up to 3%.

The report stated that Advent is doing its due diligence and could form a group, citing reliable sources.

According to the report, a 10% stake would have a value of 33.64 trillion rupees. The proposal could also be made through preferential allotments.

According to the report, talks continue and could collapse if share prices rise or there are regulatory obstacles.

Reuters reached Advent and Yes Bank but they did not respond immediately to comments.

After Yes Bank failed to secure the required capital to meet regulatory obligations, the Reserve Bank of India took control of the bank in 2020.

The State Bank of India, along with several other private lenders, intervened to inject money and rescue the lender to alleviate systemic risks.

($1 equals 74.7200 Indian rupees).

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