Citing two people aware of the development, the Mint report stated that the deal may value Yes Bank at $1.7 billion, under which, SMBC will either buy less than 26% stake and do a merger through a share swap, or may be up to 26% stake and trigger an open offer.
As per the March quarter shareholding pattern, SBI had a 24% stake in Yes Bank, followed by lenders like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank and LIC.
Vervanta Holdings Ltd. had a 9.2% stake in the lender, while CA Basque Investments had a 6.84% stake.
Yes Bank also has nearly 62 lakh small retail shareholders, or those with authorised share capital of up to ₹2 lakh, who have a 22.55% stake in the lender.
Yes Bank was rescued by a consortium of banks, led by SBI, in 2020 after the RBI had superseded the bank’s board. Back then, the lender fell short of liquidity requirements and its founder & CEO Rana Kapoor failed to win the RBI’s approval to continue at the helm.
Since Kapoor’s exit in 2019, Yes Bank does not have a promoter.
Shares of Yes Bank ended 0.2% higher on Monday at ₹17.74. The stock has risen 5.3% in the last one month, but is down 10% so far in 2025.
