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CA Basque no longer has right to nominate director on board, says Yes Bank
June 05, 2025
|Business Standard
Yes Bank on Wednesday said that CA Basque Investments, an affiliate of global investment firm Carlyle Group, will no longer have the right to nominate a director to the bank's Board, following its sale of a 2.62 per cent stake in the bank earlier this week through block deals.
Pursuant to the sale, CA Basque Investments holds 4.22 per cent stake in the bank. At the end of March quarter, CA Basque held 6.84 per cent share in the bank.
"In accordance with the terms of the investment agreement dated July 29, 2022, executed between the investor and the bank, the investor no longer has the right to nominate a director on the board of the bank," the bank said in a disclosure to the exchanges.
CA Basque Investments sold shares of Yes Bank in the price range of ₹21.61-21.68 apiece, taking the combined transaction value to ₹1,774.89 crore.
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