Yes Bank shares climb 4 pc

New Delhi, Sep 3 (PTI) Shares of Yes Bank jumped 4 per cent on Wednesday after fair trade regulator CCI cleared Japan's Sumitomo Mitsui Banking Corporation's proposal to acquire up to 24.99 per cent stake in the private sector firm.

The stock climbed 4.09 per cent to settle at Rs 20.36 on the BSE. During the day, it surged 4.19 per cent to Rs 20.38.

At the NSE, shares of the company went up by 4 per cent to Rs 20.35.

SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc. (SMFG).

"The proposed combination relates to the acquisition of share capital and voting rights of Yes Bank by Sumitomo Mitsui Banking Corporation (SMBC)," the Competition Commission of India (CCI) said in a release on Tuesday.

"CCI approves acquisition of certain share capital and voting rights of Yes Bank by Sumitomo Mitsui Banking Corporation," the regulator said in a post on X.

Last month, Yes Bank announced that the RBI accorded approval to SMBC to acquire up to 24.99 per cent stake in the lender. PTI SUM SUM DR DR