Shares of Yes Bank Ltd surged nearly 2.85% to ₹20.56 on Tuesday after reports emerged that Sumitomo Mitsui Financial Group (SMFG) is planning to make an additional investment of about $1.1 billion in the private lender.
According to Bloomberg, SMFG is also considering purchasing around $680 million worth of convertible bonds and acquiring approximately 5% of Yes Bank’s shares from existing investors such as Carlyle and others. The development signals SMFG’s deepening interest and confidence in Yes Bank’s turnaround efforts.
At around 1:20 PM, Yes Bank stock was trading at ₹20.56, up from its previous close of ₹19.99. The day’s range so far has been between ₹19.98 and ₹20.60, and the stock’s market cap stands at approximately ₹643.98 billion. The P/E ratio is reported at 26.29, with an average volume of 134.08 million shares.
Sumitomo Mitsui Financial Group (SMFG) is a leading global financial services group based in Japan and already a stakeholder in Yes Bank. The additional planned investments underscore its strategic partnership with the bank and aim to strengthen its foothold in India’s growing financial sector.
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