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SBI holds a 24 per cent stake in Yes Bank, as a result of the regulator-led restructuring of the lender in March 2020.
Yes Bank Share Price: Stock rally 10% as SBI plans to sell 13.19% stake.
Yes Bank Stake Sale: State Bank of India (SBI) will divest 413,44,04,897 equity shares of Yes Bank Limited (YBL), representing to 13.19 per cent stake of YBL to Sumitomo Mitsui Banking Corporation (SMBC) at Rs 21.50 per equity share. The public lender will received about Rs 8,888.97 crore from the buyer in the stake sale. It is expected to be executed within 12 months.
Yes Bank shares rallied nearly to 10 per cent to end at Rs 20.05 apiece, against the previous day close at Rs 18.23 per share. The day’s high and low made at RS 20.37 and Rs 17.77, respectively.
Sumitomo Mitsui Banking Corporation (SMBC), a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG).
“we advise that the Executive Committee of the Central Board (ECCB) of the Bank in the meeting held on 9th May, 2025 has accorded approval to divest 413,44,04,897 equity shares of Yes Bank Limited (YBL), being equivalent to 13.19% (approx.) of YBL shares to Sumitomo Mitsui Banking Corporation (SMBC), at Rs.21.50 per equity share, for a consideration of Rs.8888,97,05,285 and paisa 50 only (Rs.8888.97 crores approx.), subject to receipt of all regulatory and statutory approvals by the acquirer,” SBI said in the filing.
SBI holds a 24 per cent stake in Yes Bank, as a result of the regulator-led restructuring of the lender in March 2020.
ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank and Life Insurance Corporation of India together hold an 11.34 per cent stake in Yes Bank.
Indian regulations need the largest shareholder of a bank to reduce their shareholding to 26 per cent in 15 years.
Earlier, a Reuters report stated that SMBC is eyeing a majority 51% stake in Yes Bank. If everything goes as planned, it could potentially be the largest in India’s banking sector.
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