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SBI to sell 24% stake in Yes Bank: State Bank of India (SBI) plans to sell its 24% stake in Yes Bank, worth Rs 18,420 crore, by March 2025 ¹.
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Sumitomo Mitsui and Emirates NBD in talks: Japanese lender Sumitomo Mitsui Banking Corp and Dubai-based Emirates NBD are in advanced talks to acquire a majority stake in Yes Bank ¹.
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RBI verbally approves proposal: The Reserve Bank of India (RBI) has verbally approved the proposal, and due diligence is ongoing ¹.
The sale of SBI’s stake in Yes Bank is expected to be completed by the end of the financial year, March 2025. Sumitomo Mitsui Banking Corp and Emirates NBD are interested in acquiring a majority 51% stake in Yes Bank to gain significant control over the bank’s operations. The RBI has given verbal approval for the proposal, and discussions are underway to relax regulatory requirements for promoter shareholding.
SBI currently holds 24% of Yes Bank’s shares, while 11 other lenders, including ICICI Bank and HDFC Bank, hold 9.74%. Two private equity funds, CA Basque Investments and Verventa Holdings, collectively hold 16.05% of Yes Bank’s shares. The remaining shares are held by other investors and the public.
