Question
How much did SBI agree to receive for selling its 13.19%
stake in Yes Bank to SMBC?Solution
As of March 2024, the State Bank of India (SBI) held 23.97% stake in Yes Bank. Under the approved arrangement, SBI agreed to sell 13.19% of its stake to SMBC for ₹8,889 crore. This transaction is significant not just for its value but also for its context, since SBI had originally stepped in (along with a consortium of banks) to rescue Yes Bank following its crisis. The deal represents a partial exit strategy for SBI while bringing in foreign capital through SMBC.
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