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

14 May 2025 CW Team

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

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..