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Yes Bank block deal: Carlyle Group likely to sell 2% stake worth Rs 1,500 crore today

Yes Bank block deal: Carlyle Group likely to sell 2% stake worth Rs 1,500 crore today

In February, Carlyle had sold a 1.4% stake in YES Bank, worth around Rs 1,057 crore. CA Basque Investments, the Mauritius-based special purpose vehicle, had then sold 39,00,00,000 shares of the lender at Rs 27.10 apiece.

Yes Bank on Thursday said it has received a service tax demand order, which levied a penalty of over Rs 6.42 crore. Yes Bank on Thursday said it has received a service tax demand order, which levied a penalty of over Rs 6.42 crore.

Carlyle Group will reportedly divest a 2% stake valued at Rs 1,500 crore in Yes Bank through a block deal today. The transaction is said to be facilitated by Goldman Sachs, according to a CNBC-TV 18 report. Carlyle holds an 8.74% stake in Yes Bank via CA Basque Investments.

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In February, Carlyle had sold a 1.4% stake in YES Bank, worth around Rs 1,057 crore. CA Basque Investments, the Mauritius-based special purpose vehicle, had then sold 39,00,00,000 shares of the lender at Rs 27.10 apiece.

Yes Bank on Thursday said it has received a service tax demand order, which levied a penalty of over Rs 6.42 crore. "The Bank has received an order from the Office of the Commissioner of GST & Central Excise, Maharashtra on May 02, 2024, confirming tax liability on a service tax issue along with interest and levy of a penalty of Rs 6,41,84,437," the lender said in a regulatory filing. "The Bank has received an order from the Office of the Commissioner of GST & Central Excise, Maharashtra on May 02, 2024, confirming tax liability on a service tax issue along with interest and levy of a penalty of Rs 6,41,84,437," the lender said in a regulatory filing.

It said the tax and interest demand is below the material threshold limit currently applicable to the bank. "The bank does not expect any material impact on financial, operation or other activities of the bank due to the said order," Yes Bank said. "The bank does not expect any material impact on financial, operation or other activities of the bank due to the said order," Yes Bank said.

The bank will pursue an appeal against the order, it added.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: May 03, 2024, 7:23 AM IST
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Yes Bank Ltd
Yes Bank Ltd