The board of Yes Bank has approved allotment of 361.61 crore equity shares and 255.97 crore warrants to private equity firms Carlyle Group and Advent International following the Reserve Bank of India's nod for the same.

The private sector lender will issue 184.8 crore shares to Carlyle Group entity CA Basque Investments at Rs 13.78 per share, and 127.98 crore convertible warrants at Rs 14.82 per warrant. These warrants are convertible into 1 share each.

Similarly, Advent International's entity Verventa Holdings will get 184.8 crore shares at Rs 13.78 per share, and 127.98 crore convertible warrants at Rs 14.82 per warrant.

The share issue will translate into 5.9% stake each for both the PE firms in Yes Bank. Their stake will increase to around 10% after the conversion of the warrants.

Yes Bank has appointed a nominee each from the PE firms as additional directors on its board. While Sunil Kaul is Carlyle's nominee, Shweta Jalan is Advent's nominee.

In July, Yes Bank had announced plans to raise $1.1 billion through sale of shares and convertible warrants to the two private equity firms.