Sale9 May 2025, 04:11 pm
Federal Bank Sells 16.6 Crore Yes Bank Shares to Sumitomo Mitsui Banking Corporation
AI Summary
Federal Bank Ltd has executed a Letter Agreement with Sumitomo Mitsui Banking Corporation (SMBC) and Yes Bank Limited for the sale of 16,62,73,472 equity shares of Yes Bank held by Federal Bank, in favour of SMBC. The sale is subject to terms set forth in the Letter Agreement and regulatory approvals. The transaction took place on May 09, 2025, at a consideration of Rs. 21.50 per share. The Board Meeting of Federal Bank commenced on May 09, 2025, at 02.45 pm and concluded on May 09, 2025, at 03.35 pm.
Key Highlights
- Federal Bank sells 16.6 crore shares of Yes Bank to Sumitomo Mitsui Banking Corporation
- Transaction took place on May 09, 2025, at a consideration of Rs. 21.50 per share
- Sale is subject to terms set forth in the Letter Agreement and regulatory approvals
- Federal Bank's Board Meeting commenced on May 09, 2025, at 02.45 pm and concluded on May 09, 2025, at 03.35 pm