Yes Bank’s shares rose by more than 8% today, reaching a three-month high on May 9.
As reported by the Economic Times, a meeting is scheduled today between Yes Bank’s board and State Bank of India (SBI).
SBI may consider selling its stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC).
SMBC has been interested in acquiring a stake in Yes Bank since 2024, and the latest discussions suggest it might aim for a controlling stake.
Yes Bank’s stock opened at Rs 17.76 on the BSE on Friday. It gained over 8%, reaching Rs 19.73,
and was trading at Rs 19.44 at 1:33 pm. Over the past month, the stock has risen by 14%.
SBI’s 23.97% Stake
SBI holds a 23.97% stake in Yes Bank. Reports indicate that SBI may sell 20% of this stake to SMBC, with the Japanese bank possibly making an open offer, according to Moneycontrol.
Other Stakeholders in Yes Bank
Besides SBI, other major stakeholders in Yes Bank include Axis Bank, Kotak Mahindra Bank, ICICI Bank, and HDFC Bank, with a combined 7.36% stake.
Private equity firms Advent International and Carlyle hold 9.2% and 6.84%, respectively. Life Insurance Corporation of India (LIC) owns 3.98% of Yes Bank.
