Shares of Yes Bank jumped about 5 percent intraday on Friday after CNBC-TV18 reported that the lender’s board of directors will meet today to consider fund raising proposal.

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At 12:02 IST, shares of the bank were trading 3.8 percent higher at Rs 15.13 on the BSE.

The board may consider private equity proposals for investment, sources told CNBC-TV18.

Carlyle and Advent are eyeing up to 10 percent stake each, they said. Additionally, Carlyle and Advent are seeking board nominations as part of the funding, they added.

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Yes Bank, Advent and Carlyle have declined to comment on the deal.

Last week, CNBC-TV18 reported that Yes Bank resolution is on the fast track with an asset reconstruction company (ARC) deal announcement and the next leg of private equity funding in its final stages.

It was reported that Carlyle and Advent would be looking at a board seat as part of investments. Yes Bank has changed its Articles of Association to make room for these appointments, CNBC-TV18 reported.

On Friday evening, Yes Bank approved the sale of securities worth Rs 8,898 crore to global private equity players Carlyle and Advent groups. At its meeting on Friday, the bank's board decided to issue over 369.61 crore equity shares and 256.75 crore warrants.

These securities will be issued on a preferential basis for a total consideration of Rs 8,898.47 crore, according to a regulatory filing. The shares will be offered at Rs 13.78 apiece while the warrants exchangeable into equity shares are to be issued at Rs 14.82 per piece. The face value of these shares is Rs 2 apiece.

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First Published:Jul 29, 2022 12:21 PM IST