Yes Bank Limited has officially denied the accuracy of a recent media report claiming that Japan’s Sumitomo Mitsui Banking Corporation (SMBC) is in advanced talks with State Bank of India (SBI) to acquire a significant stake in the private lender.
In a clarification filed with the National Stock Exchange on May 6, Yes Bank stated that while the bank routinely explores growth opportunities with stakeholders to enhance shareholder value, the discussions mentioned in the article are preliminary and “do not warrant a disclosure under Regulation 30 of the SEBI LODR Regulations, 2015.”
The bank also termed the claims in the media report as “speculative” and “not factually correct,” and said there is no undisclosed information requiring regulatory disclosure at this time.
The report from The Economic Times had earlier suggested that SMBC was exploring a potential acquisition exceeding 5.1% in Yes Bank, which could trigger an open offer under SEBI rules. It also noted SBI’s 23.97% stake, with HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, LIC, Advent International, and Carlyle as other major shareholders.
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