Yes Bank’s board on Friday approved an investment of Rs 8,898 crore from private equity investors Advent and Carlyle, ending months of talks. The investment will be split into two: 59% of the total will be through advance payment of equity and the remaining 41% will be through issuance of warrants which are converted into equity shares after 18 months. However, since warrants are also being issued on preferential basis, as per law, investors will pay 25% of the warrant in advance. The bank will get an immediate capital of Rs 6044 crore.