Private equity group Carlyle is considering a $500-600m investment in Yes Bank along with peer Advent International, according to people in the know.

The lender is in talks with the private equity (PE) investors to raise $1-1.5bn of growth capital to further bolster its balance sheet two years after the regulator put it under stewardship of the State Bank of India to stave off a possible run on its deposits.

The proposed investment by PE investors via preferential allotments could be similar to Bain Capital’s 2017 investment in Axis Bank that saw the Boston-based PE major lead a consortium that pumped in $1.8bn to help shore up Axis Bank’s capital base after a string of disappointing earnings.

Read more: Economic Times