Importantly, the RBI has made it clear that following this acquisition, SMBC will not be classified as a promoter to Yes Bank.
The bank disclosed the development in the regulatory filing, noting that the approval was valid for one year from August 22, 2025. The proposed acquisition is from the plan to increase its holding at SMBC’s Yes Bank by a secondary share by buying a secondary share.
This includes 13.19% of State Bank India F -India and Yes Bank, Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and seven other shareholders of Kotak Mahindra Bank.
“We refer to the announcement of our previous stock exchange on May 09, 2025, reporting the stock exchanges proposed by Sumitomo Mitsui Banking Corporation (” SMBC “), State Bank, ISN, Alt, INS, INAR, INS, INS, INS, ISNS. Limited, Federal Bank Limited, ICICI Bank Limited, IDFC First Bank Limited and Kotak Mahindra Bank Limited.
Any subsequent transaction will also be subject to regulatory terms and RBI’s decision.
The bank further noted that the involvement of the transaction on receiving clearance from the Indian Competition Commission (CCI) and the completion of the Rs OMA terms mentioned in the agreements announced in early May 2025 is accidental.
On Friday, Yes Bank shares were up 0.8% on BSE. Closed at 19.28.
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