Shares of Yes Bank surged over 8 percent to hit a three-month high on May 9, after The Economic Times reported citing people familiar with the developments that the lender's board as well that of State Bank of India (SBI) will meet today separately to finalise the sale of stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC).
The Japanese financial conglomerate had begun talks to buy some stake in the company back in 2024, Moneycontrol had earlier reported, and it is now back in fray to acquire controlling stake in the bank.
PSU lender SBI holds a 23.97 percent stake in Yes Bank, and may sell up to 20 percent of its holding to SMBC. Moneycontrol has also learnt that SMBC may infuse fresh capital of 6–7 percent, and may make an open offer to take its stake up to 51 percent.
Axis Bank, Kotak Mahindra Bank, ICICI Bank and HDFC Bank are the other investors in Yes Bank, who collectively hold a 7.36 percent stake in the private lender. Private equity majors Advent International and Carlyle hold 9.2 percent and 6.84 percent stake in the bank, respectively. Life Insurance Corporation of India (LIC) too holds a 3.98 percent stake in Yes Bank.
"Once SMBC reverts on the proposed terms, the deal will be taken to the regulator for further consideration," one senior official familiar with the developments had told Moneycontrol, adding that an agreement may be reached this fiscal if the Japanese firm is agreeable to shareholding and voting rights' laws.
Yes Bank shares have so far surged nearly 14 percent in the past one month. The stock however has fallen marginally in 2025 so far.
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