Yes Bank announces RBI nod for SMBC to acquire up to 24.99% stake

Yes Bank announces RBI nod for SMBC to acquire up to 24.99% stake -

1) Mumbai-based private sector lender Yes Bank Ltd. announced that Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India (RBI) to acquire up to 24.99% stake in the company. 2) SMBC currently holds a 20% stake in Yes Bank, acquired in May 2025 through a secondary share purchase. This comprised a 13.19% stake from State Bank of India (SBI) and a combined 6.81% stake from seven other domestic banks: Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank. 3) The RBI’s approval to increase SMBC’s shareholding to 24.99% is valid for one year. 4) Yes Bank clarified that SMBC will not be classified as a promoter despite the increased shareholding. 5) On May 9, 2025, Yes Bank disclosed that it, along with its major shareholders, including SBI and other domestic banks, had signed a share purchase agreement with SMBC to facilitate the acquisition of the 20% stake. 6) This will have positive impact on the stock. 7) All this is for information. This is not a buy/sell recommendation. Thank you, Technofunda24