SBI to sell 13% stake in Yes Bank to Japanese entity for Rs 8,889 cr

New Delhi: State Bank of India (SBI) on Friday said its board has given approval for a 13.19 per cent stake sale in private lender Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC) for a consideration of Rs 8,889 crore.

The executive committee of the central board (ECCB) of the bank in the meeting has accorded approval to divest 413.44 crore shares or equivalent to 13.19 per cent stake in Yes Bank for a consideration of Rs 8,888.97 crore, SBI said in a regulatory filing.

The share sale is proposed to take place at a price of Rs 21.50 per equity share, it said.

SBI held 24 per cent stake in Yes Bank as of March 2025, according to shareholding data posted on the BSE.

The stake sale is subject to receipt of all regulatory and statutory approvals by the acquirer, it said.

The transaction is expected to be completed within 12 months from the date of execution, it added.