Overview

• Reports suggest SMBC is in advanced talks to acquire up to a 51% stake in Yes Bank, potentially triggering an open offer for an additional 26%.
• Yes Bank has publicly denied the reports, calling them speculative and stating that discussions are preliminary and not material at this stage.
• The Reserve Bank of India has reportedly provided verbal assurances that SMBC could hold a majority economic interest, though foreign voting rights would remain capped at 26%.
• State Bank of India, which holds a 24% stake in Yes Bank, is considered a key seller in the potential deal, with other investors' intentions unclear.
• Yes Bank's shares surged up to 10% following the reports but later pared gains after the bank's denial of the claims.