SMBC completes 20% stake purchase in Yes Bank
YESBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty Midcap 150 and 0.3 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SMBC completed its purchase of 20.00% of Yes Bank, equal to 6,271,235,194 shares, after acquiring 13.19% from SBI and 6.81% from seven other banks. The deal received Reserve Bank of India and Competition Commission of India approvals. Two SMBC nominees joined the board, subject to shareholder approval, and SBI nominee Sandeep Tewari resigned.
SMBC now owns 20% of Yes Bank, increasing strategic influence. Its two board nominees could aid governance and growth, subject to shareholder approval.