Sumitomo Mitsui Banking Corporation gets RBI nod for acquisition of 24.99% in YES Bank

Sumitomo Mitsui Banking Corporation ("SMBC") has received the approval of the Reserve Bank of India ("RBI") to acquire up to 24.99% of the paid-up share capital / voting rights of the Bank vide letter dated August 22, 2025. This approval is valid for one year from the date of this letter. RBI has further clarified that pursuant to the said acquisition, SMBC would not be treated as a promoter of the Bank.

SMBC had earlier announced the acquisition of 20.00% shareholding in the Bank through a secondary stake purchase of 13.19% stake from the State Bank of India and an aggregate of 6.81% stake from 7 other shareholders of the Bank, i.e., Axis Bank Limited, Bandhan Bank Limited, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited and Kotak Mahindra Bank Limited ("Proposed Transaction").

The aforesaid approval granted by RBI is subject to other conditions including compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI's Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time), provisions of the Foreign Exchange Management Act, 1999 and other applicable laws and terms including lock in, any subsequent transactions being subject to conditions and RBI's decision, etc.

Further, the consummation of the above referred 'Proposed Transaction' is subject to approval from Competition Commission of India ("CCI") and customary conditions precedents as mentioned in the agreements referred in our intimation dated May 09, 2025.

Shares of Yes Bank Limited was last trading in BSE at Rs. 19.28 as compared to the previous close of Rs. 19.43. The total number of shares traded during the day was 7199326 in over 31858 trades.

The stock hit an intraday high of Rs. 19.46 and intraday low of 19.23. The net turnover during the day was Rs. 139254262.00.

Source : Equity Bulls

Keywords

SumitomoMitsuiBankingCorporation SMBC Stake Acquisition YesBank INE528G01035 RBIApproval