Regulations state that a bank cannot remain invested in another bank, Kumar pointed out, adding that it was important to find a strategic investor to replace State Bank of India when YES Bank had returned to normalcy.
Private sector lender Yes Bank Ltd. said that its board has agreed to allot shares and warrants to The Carlyle Group and Advent International as part of its fund-raising exercise.
The bank's board met on Tuesday to approve the allotment plan.
A total of 369.61 crore equity shares and 255.97 warrants have been allotted to the two investors on a preferential basis.
The board of directors of YES Bank Ltd in its meeting held today i.e., December 13, 2022 has considered and approved the allotment of a total of 369,61,55,702 equity shares and 255,97,61,818 share warrants.