Yes Bank Ltd., an Indian private sector lender, is selling as much as 10 percent each to affiliates of Carlyle Group and Advent International to raise $1.1 billion in capital, the bank said in a stock exchange filing.

The investors will subscribe to Yes Bank’s equity share sales worth $640 million and warrant issues for $475 million. Carlyle and Advent will have the right to nominate one member each to the bank’s board.

Yes Bank, once at the center of India’s biggest financial bailout, has been working toward shedding a mountain of stressed loans after having been rescued by the central bank, which is also the regulator for the country’s banking sector.

Despite the rescue and an investment by state-run peer State Bank of India, the lender has remained heavily burdened with problem debt even as it has returned to profitability.

“We are excited about the incremental opportunities that this partnership creates for us and confident that both the investors will play a crucial role in the next growth phase of the bank,” said Prashant Kumar, managing director and chief executive officer, at Yes Bank.

BofA Securities was the adviser to Yes Bank, the lender said.