Sumitomo Mitsui to Exit Kotak Stake for Yes Bank Deal

Sumitomo Mitsui plans to sell its 1.65% stake (3.28 crore shares) in Kotak Mahindra Bank via block deals worth ₹6,000 crore, CNBC-Awaaz reported. Proceeds will fund its planned 20% stake purchase in Yes Bank for ₹14,000 crore, recently approved by RBI without promoter classification.