Investment9 May 2025, 03:54 pm
State Bank of India to Divest 13.19% Stake in Yes Bank Limited for Rs.8888.97 Crores
AI Summary
The Executive Committee of the Central Board (ECCB) of the State Bank of India has approved the divestment of 413,44,04,897 equity shares of Yes Bank Limited (YBL), equivalent to 13.19% of YBL shares, to Sumitomo Mitsui Banking Corporation (SMBC) at Rs.21.50 per equity share. The total consideration is Rs.8888.97 crores, subject to regulatory approvals.
Key Highlights
- State Bank of India to divest 13.19% stake in Yes Bank Limited
- Stake to be sold to Sumitomo Mitsui Banking Corporation (SMBC)
- Transaction value is Rs.8888.97 crores
- Approval from the Executive Committee of the Central Board (ECCB) obtained
- Subject to receipt of all regulatory and statutory approvals by the acquirer