Clarification on news items appearing in "Media/Publication"
Awaiting price reaction for this filing.
YES Bank responded to a BSE query about a Moneycontrol article that said its shares jumped 9% on news that Japan's SMBC was in talks with SBI for a stake acquisition in the bank. The bank acknowledged it routinely explores opportunities with various stakeholders to boost shareholder value, but called the discussions 'preliminary' and said they do not yet require disclosure under SEBI's Regulation 30 rules. YES Bank labelled the news article's claims as 'speculative' and 'not factually correct.' It also said it is not aware of any undisclosed information that could explain the sharp movement in its share price.
Short-term share price jump driven by the news article may cool as the bank distances itself from the report. However, the confirmation that YES Bank is open to stakeholder discussions keeps the possibility of a strategic investment alive, which could be positive if a deal materialises later.