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SMBC gets RBI’s nod to buy 4.99% in Yes Bank, taking total stake to 24.99%
- IBJ Bureau
- Aug 24, 2025
The Reserve Bank of India (RBI) has given an in-principle approval for Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to acquire an additional 4.99 per cent equity in Yes Bank with voting rights but not being tagged as its promoter entity.
This approval takes the total Japanese ownership in the domestic bank to 24.99 per cent, as it had already agreed to pick up 20 per cent in the bank in May this year for Rs 13,483 crore or Rs 21.50 per share.
Yes bank has informed the exchanges, quoting the RBI that despite owning a quarter of the bank, the Japanese lender will not be considered as the promoter of the lender but will enjoy voting rights on 24.99 per cent paid-up equity shares.
State Bank of India – which owns 23.97 per cent in the private sector bank since March 2020 when it went belly-up and was rescued by the RBI – will sell 13.19 per cent stake for Rs 8,889 crore, while the six other banks – Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank – together will sell the 6.81 per cent stake for Rs 4,594 crore, Yes Bank has said.
The new RBI approval has one-year validity for completion of the sale process, Yes Bank has added.
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