Overview

• SBI transferred 413.44 crore Yes Bank shares at Rs 21.50 each, receiving Rs 8,888.97 crore on completion.
• SBI now holds about 10.8% of Yes Bank, as part of a broader Rs 13,483 crore multi-bank transaction that brings SMBC to 20%.
• Regulatory nods came from the RBI on August 22 and the Competition Commission of India on September 2, enabling the share transfer.
• SMBC has approval to nominate two directors to Yes Bank’s board and will not have ownership control or promoter status.
• SMBC has permission to raise its stake to 24.99%, and Republic World reported the bank said it agreed to buy an additional 4.2% from a Carlyle affiliate, while SBI shares rose and Yes Bank edged lower after the announcement.