 "YES Bank")
(Reuters) - India's Yes Bank Ltd said on Friday it will sell up to 10% stake to U.S. private equity firms Carlyle Group Inc and Advent International for $1.1 billion.
Yes Bank will raise the funds through a combination of about $640 million in shares and about $475 million in share warrants, the private lender said in a statement.
Yes Bank will offer 3.69 billion shares to affiliates of Carlyle Group and Advent for 13.78 Indian rupees ($0.1737) apiece.
The company will also issue 2.56 billion share warrants at a price of 14.82 Indian rupees ($0.1868) per warrant to both the investors.
Earlier this month, Yes Bank said it would seek to raise about $1 billion in this financial year as it exits a reconstruction plan after two years.
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The company also selected an asset reconstruction firm belonging to private equity firm JC Flowers as the base bidder for the sale of bad loans worth 480 billion Indian rupees ($6.05 billion)
($1 = 79.3360 Indian rupees)
(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Arun Koyyur)
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