Private equity firm Carlyle Group has sold a 1.35 percent stake in Yes Bank at an average price of INR 27.10 per share. The sale amounted to INR 1,056 crores ($150 million). Carlyle Group had acquired the stake in July 2020 as part of a rescue deal for the troubled bank.

Yes Bank has been working to recover from financial stress and improve its performance. The bank had faced significant challenges in 2019 due to bad loans and a decline in its share price. The Reserve Bank of India had to step in and impose restrictions on the bank, leading to a rescue plan.

Carlyle Group’s sale comes as Yes Bank has shown signs of improvement. The bank reported a net profit of INR 129.37 crores ($18 million) for the quarter ending December 2020, compared to a net loss of INR 18,560 crores ($2.6 billion) in the same period the previous year.

Yes Bank’s shares have also been performing well in the stock market. The stock has seen a significant increase in its price since Carlyle Group’s acquisition, rising from around INR 11 per share to INR 27.10 per share at the time of the sale.

Carlyle Group’s sale of its stake in Yes Bank indicates that the private equity firm believes in the bank’s recovery and sees an opportunity for profit. The sale allows Carlyle Group to exit its investment with a substantial return.

Overall, Carlyle Group’s sale of Yes Bank shares is a positive development for the bank and its investors. It demonstrates confidence in the bank’s turnaround and provides a boost to its finances. The sale also indicates that investor sentiment towards Yes Bank is improving, which can have a positive impact on the bank’s future prospects.