US private equity firms Carlye Group and Advent International are to acquire a 10% stake in India’s Yes Bank, according to a report by Reuters.

US private equity firms Carlye Group and Advent International are to acquire a 10% stake in India’s Yes Bank, according to a report by Reuters.

Statement released by the private lender revealed that the investment will be made up of a combination of around $640 million in shares and about $475 million in share warrants.

A total of 3.68 billion Yes Bank shares will be offered to affiliates of Carlyle and Advent at a price of INR13.78 ($0.1737) each. Yes Bank is also planning to issue 2.56 billion share warrants at a price of INR14.82 ($0.1868) per warrant to both investors.