Yes Bank Ltd Announces Share Purchase Agreement with Sumitomo Mitsui Banking Corporation and Other Sellers

Yes Bank Ltd has announced the execution of a Share Purchase Agreement (SPA) with Sumitomo Mitsui Banking Corporation (SBI) and other sellers. Under the SPA, SBI will transfer 13.19% of the equity share capital of the Bank to SBI, subject to customary conditions precedent. The Other Sellers, including HDFC, ICICI, Kotak Mahindra, Axis, IDFC First, Federal, and Bandhan, will transfer an aggregate of 6.81% of the equity share capital of the Bank to SBI. The Purchaser will acquire 20.00% of the total shareholding in the Bank, and SBI will continue to hold more than 10% shareholding in the Bank.