Yes Bank Limited has informed the Exchange Amendment Agreement to the Investment Agreement with Verventa Holdings Limited ( VHL )
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Yes Bank's board has approved an amendment to its 2022 Investment Agreement with Verventa Holdings Limited (VHL), an affiliate of Advent-managed funds that currently holds 9.19% of the Bank. The amendment revises terms of VHL's right to nominate one non-executive director. Key changes: the nominee director will now be liable to retire by rotation (previously a non-retiring position), VHL's right to nominate an alternate director is removed, and the fall-away threshold is lowered from holding 50% of originally issued securities to just 5% of the total paid-up share capital (fully diluted basis). The transaction is not a related-party transaction and the parties are not related to the promoter group.
This is a routine governance housekeeping update with no material impact on shareholders or the stock. Lowering the fall-away threshold to 5% actually means VHL retains its board seat more easily even if it trims its stake, signaling continued long-term interest in the bank.