SBI to Sell Over 13 Per Cent Stake in YES Bank to SMBC
ECONOMY & POLICY

SBI to Sell Over 13 Per Cent Stake in YES Bank to SMBC

State Bank of India (SBI) has approved the sale of 413,440,489 equity shares of YES Bank Limited, representing 13.19 per cent of the bank's shareholding, to Japan-based Sumitomo Mitsui Banking Corporation (SMBC). Valued at approximately Rs 88.89 billion, the transaction is expected to be completed within twelve months, subject to regulatory and statutory approvals.

This divestment, approved by the Executive Committee of the Central Board on May nine, 2025, will reduce SBI’s stake in YES Bank from 24 per cent to 10.81 per cent. Other Indian financial institutions such as Kotak Mahindra Bank, Axis Bank, ICICI Bank, and Life Insurance Corporation of India hold a combined 11.34 per cent stake. Additionally, private equity firms Advent International and Carlyle Group own 9.2 per cent and 6.84 per cent, respectively.

Following the announcement, YES Bank shares surged 11.74 per cent to an intraday high of Rs 20.36, before closing 9.77 per cent higher at Rs 20. SBI shares ended 1.39 per cent up at Rs 779.40, reflecting a positive market reaction to the deal.

Source: Business Today

State Bank of India (SBI) has approved the sale of 413,440,489 equity shares of YES Bank Limited, representing 13.19 per cent of the bank's shareholding, to Japan-based Sumitomo Mitsui Banking Corporation (SMBC). Valued at approximately Rs 88.89 billion, the transaction is expected to be completed within twelve months, subject to regulatory and statutory approvals.This divestment, approved by the Executive Committee of the Central Board on May nine, 2025, will reduce SBI’s stake in YES Bank from 24 per cent to 10.81 per cent. Other Indian financial institutions such as Kotak Mahindra Bank, Axis Bank, ICICI Bank, and Life Insurance Corporation of India hold a combined 11.34 per cent stake. Additionally, private equity firms Advent International and Carlyle Group own 9.2 per cent and 6.84 per cent, respectively.Following the announcement, YES Bank shares surged 11.74 per cent to an intraday high of Rs 20.36, before closing 9.77 per cent higher at Rs 20. SBI shares ended 1.39 per cent up at Rs 779.40, reflecting a positive market reaction to the deal.Source: Business Today

Next Story
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?