Shares of Yes Bank rallied 5.4% to an intraday high of Rs 20.33 on the BSE on Monday after the Reserve Bank of India (RBI) approved Sumitomo Mitsui Banking Corporation (SMBC) 's acquisition of up to 24.99% of the private lender’s paid-up share capital and voting rights.
Yes Bank on Saturday said that the RBI’s approval allows the Japanese banking major to purchase a significant minority stake. However, the central bank clarified that SMBC will not be classified as a promoter of Yes Bank following this acquisition.
The approval is valid for one year starting from August 22, 2025, according to a regulatory filing by Yes Bank.
The move is part of SMBC’s plan to raise its holding in the lender to 20% via a secondary market stake purchase.
This includes a 13.19% stake from State Bank of India and an additional 6.81% from seven other existing shareholders of Yes Bank --- Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.
“We refer to our earlier stock exchange disclosure dated May 09, 2025, informing the stock exchanges of the proposed acquisition by Sumitomo Mitsui Banking Corporation (“SMBC”) of 20.00% shareholding in the Bank through a secondary stake purchase of 13.19% stake from the State Bank of India and an aggregate of 6.81% stake from 7 other shareholders of the Bank, i.e., Axis Bank Limited, Bandhan Bank Limited, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited and Kotak Mahindra Bank Limited (“Proposed Transaction”),” said the bank in its exchange filing.
Also read: Is Rs 4 crore enough for retirement corpus? Gurmeet Chadha gives simple calculation metric
Shares of Yes Bank closed 0.8% lower at Rs 19.28 on the BSE on Friday.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Yes Bank on Saturday said that the RBI’s approval allows the Japanese banking major to purchase a significant minority stake. However, the central bank clarified that SMBC will not be classified as a promoter of Yes Bank following this acquisition.
The approval is valid for one year starting from August 22, 2025, according to a regulatory filing by Yes Bank.
The move is part of SMBC’s plan to raise its holding in the lender to 20% via a secondary market stake purchase.
This includes a 13.19% stake from State Bank of India and an additional 6.81% from seven other existing shareholders of Yes Bank --- Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.
“We refer to our earlier stock exchange disclosure dated May 09, 2025, informing the stock exchanges of the proposed acquisition by Sumitomo Mitsui Banking Corporation (“SMBC”) of 20.00% shareholding in the Bank through a secondary stake purchase of 13.19% stake from the State Bank of India and an aggregate of 6.81% stake from 7 other shareholders of the Bank, i.e., Axis Bank Limited, Bandhan Bank Limited, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited and Kotak Mahindra Bank Limited (“Proposed Transaction”),” said the bank in its exchange filing.
Also read: Is Rs 4 crore enough for retirement corpus? Gurmeet Chadha gives simple calculation metric
Shares of Yes Bank closed 0.8% lower at Rs 19.28 on the BSE on Friday.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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