India’s largest lender State Bank of India (SBI), on Friday, May 9, announced that it will sell a 13.19% stake held in private sector lender YES Bank to Sumitomo Mitsui Banking Corporation (SMBC) for a consideration of ₹8,889 crore.
SBI will offload 4,13,44,04,897 equity shares of YES Bank to Sumitomo Mitsui Banking Corporation at ₹21.50 per equity share.
“Pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, 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 4,13,44,04,897 equity shares of Yes Bank Limited (YBL), being equivalent to approximately 13.19% of YBL’s shares, to Sumitomo Mitsui Banking Corporation (SMBC) at Rs. 21.50 per equity share,” SBI said in a filing.
The total consideration for this transaction amounts to Rs. 8,888,97,05,285.50 (approximately Rs. 8,888.97 crores), subject to receipt of all regulatory and statutory approvals by the acquirer, it added.
(This is a developing story; check back for updates)
