Question
From which banks will SMBC acquire the proposed 20%
stake in Yes Bank?Solution
The proposed acquisition of 20% stake by SMBC in Yes Bank will be carried out via a secondary purchase. Specifically, 13.19% stake will come from SBI, while the remaining 6.81% stake will come collectively from seven banks: Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank. This detail highlights the structure of the deal and how multiple financial institutions are reducing their holdings in Yes Bank to facilitate SMBC’s entry.
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