Question

How much did SBI agree to receive for selling its 13.19% stake in Yes Bank to SMBC?

Q: Answer-How much did SBI agree to receive for selling its 13.19% stake in Yes Bank to SMBC?

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.