In July, the private lender’s board had approved raising Rs 8,898 crore in equity capital Carlyle and Advent International and they had the option of acquiring a 10% stake in the bank.
The Competition Commission of India, in separate statements, said it has approved the acquisition of 10% stake by CA Basque Investments (controlled by a fund managed by affiliates of The Carlyle Group) and Verventa Holdings of Yes Bank.
The Commission approved the proposed combination relating to acquisition of equity securities of up to 10% of the total paid-up share capital and voting rights of Yes Bank by the acquirers.
This could be one of the largest private capital raised by an Indian private lender and Yes Bank had said the funds would help achieve the medium to long term Sustainable Development Goals and boost capital adequacy.
The bank had offered to issue 1.84 billion equity shares to Carlyle and Verventa at Rs 13.78 per share.