The Federal Bank Limited has informed the Exchange about Update on Sale of 16,62,73,472 shares of Yes Bank Limited held by Federal Bank, in favour of Sumitomo Mitsui Banking Corporation
FEDERALBNK · price
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Federal Bank has provided an update on the sale of its 16,62,73,472 (approximately 16.63 crore) equity shares held in Yes Bank Limited. These shares are being sold to Sumitomo Mitsui Banking Corporation (SMBC), a major Japanese banking group. The transaction represents Federal Bank's complete exit from its stake in Yes Bank. SMBC, the buyer, is a globally recognised banking institution.
This sale allows Federal Bank to monetise its long-held investment in Yes Bank and strengthen its capital position. For shareholders, it signals a clean exit from a non-core equity holding and potential booking of gains, which could positively impact earnings.