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Informist, Friday, May 9, 2025

--SBI to sell 13.19% stake in YES Bank to Sumitomo Mitsui Banking Corp

--SBI to sell stake in YES Bk to Sumitomo Mitsui Banking at INR 21.50/shr 

--SBI to sell 13.19% stake in YES Bank for INR 88.89 bln 

--Federal Bank to sell 166.27 mln shrs of YES Bk to Sumitomo Mitsui Banking 

--Federal Bank to sell 166.27 mln shares of YES Bk at INR 21.50/share 

MUMBAI – Sumitomo Mitsui Banking Corp will acquire 20% stake in Yes Bank by picking up 13.19% from State Bank of India and 6.81% from other banks, according to exchange filings on Friday.

State Bank of India, which currently holds 24% stake, will sell 13.19% stake in YES Bank to Sumitomo Mitsui Banking Corp for INR 88.89 billion. Following this, SBI will continue to hold more than 10%. The other 6.81% stake will be acquired from HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC FIRST Bank, Federal Bank, and Bandhan Bank.

In a separate filing, Federal Bank said it will sell 166.27 million shares of Yes Bank to SMBC at INR 21.50 per share, and SBI will sell 4.13 billion equity shares at INR 21.50 per share. 

Currently, HDFC Bank holds the second highest stake in YES Bank at 2.75% after SBI, followed by ICICI Bank at 2.39%. Kotak Mahindra Bank holds 1.21% stake, while Axis Bank has a shareholding of 1.01%. IDFC FIRST Bank, Federal Bank, and Bandhan Bank hold 0.92%, 0.76%, and 0.70%, respectively. 

Sumitomo Mitsui Banking Corp. is a Japanese multinatioal financial services company belonging to the Sumitomo Mitsui Financial Group. The transaction is expected to be completed in the next 12 months, SBI said in an exchange filing.

On the National Stock Exchange, shares of YES Bank closed 9.8% higher at INR 20.02 while those of State Bank of India closed 1.3% higher at INR 779.25 on Friday.  End

Reported by Kshipra Petkar

Edited by Vandana Hingorani

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