Yes Bank witnessed a remarkable surge of 9% on February 8, hitting a 52-week high of Rs 32.74, fueled by reports suggesting a potential move by the State Bank of India (SBI) to divest its entire stake.
India’s largest lender, SBI, is reportedly considering selling shares worth Rs 5,000-7,000 crore through a block deal, with no taxes applicable on the sale, as per CNBC Awaaz reports.
On February 8, around 26.2 crore shares, equivalent to 1.1 percent equity valued at Rs 808.8 crore, also changed hands at Rs 30.2 per share. However, the identities of the buyers and sellers remain undisclosed at this time.
As of 1:09 pm, Yes Bank shares were trading at ₹30.10, showcasing continued investor interest amidst the unfolding developments.
