Japan's SMBC to Acquire 20% Stake in Yes Bank for Rs 13,483 Crore

Japan's Sumitomo Mitsui Banking Corporation (SMBC) has agreed to purchase a 20% stake in

Bank for Rs 13,483 crore. The deal involves dia (SBI) selling a 13.19% stake for Rs 8,889 crore and other banks collectively divesting a 6.81% stake for Rs 4,594 crore, with shares priced at Rs 21.5 each. This strategic investment marks a significant move by SMBC to expand its presence in India's banking sector.