The shares of Yes Bank tumbled nearly 9 percent on June 3 after a large block deal involving 3 percent equity stake in the company reportedly took place. The shares of the private lender were trading at Rs 21.26 apiece in the morning, snapping a three-day gaining streak.
Nearly 9.4 percent shares, representing 3 percent stake in Yes Bank, exchanged hands in a large block deal at an average price of Rs 21.5 per share, CNBC-TV18 reported. This takes the total value of the transaction to Rs 2,022 crore. The report added that a leading private equity firm was likely the seller in the transaction.
Moneycontrol couldn't independently verify the report.
Notably, the shares of the private lender are in focus today, ahead of its board meeting to consider fund raising proposals. On May 28, the lender announced that its Board of Directors will meet on Tuesday, June 3, 2025, to consider a proposal for raising capital through the issuance of equity shares, debt securities, or other eligible financial instruments.
According to the company's release on May 28, the fundraising may be executed via private placement, preferential allotment, or other approved modes, subject to requisite regulatory and shareholder approvals.
On May 9, Yes Bank announced that Sumitomo Mitsui Banking Corporation (SMBC) would acquire a 20 percent stake from its stakeholders, including SBI and several other Indian banks, which had participated in its reconstruction scheme in 2020, for around Rs 13,480 crore.
The Japanese banking giant is also expected to infuse fresh capital into the private lender, equivalent to an additional 6-7 percent stake.
If the fund infusion materialises, SMBC may be required to make an open offer to Yes Bank shareholders, potentially raising its total stake to as high as 51 percent, which would mark a transformative shift in the bank's ownership and control.
Earlier on June 2, Economic Times had reported that SMBC is set to approach the Reserve Bank of India (RBI) for a licence to operate a fully owned subsidiary in India. The move was said to be part of the Japanese conglomerate's plan is acquire a controlling stake in Yes Bank.
Yes Bank however issued a clarification later. "The Bank is not privy to discussions in relation to matters stated in the article. Further, references to the Bank having ‘road map’ discussions with the RBI are factually incorrect," it said.
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