Race for Yes Bank: Japan’s MUFG, SMBC weigh majority stake buyout in lenderMoneycontrol • 14 days ago
The State Bank of India-led consortium, which rescued Yes Bank in 2020, is now considering selling its stake.
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Yes Bank, according to the report has initiated discussions and sent invitations to both domestic and international financial institutions for the stake sale.
Discussions have been initiated with banks and financial institutions in Japan, West Asia, and Europe regarding the sale of at least 51% stake in Yes Bank.
Ashish Kyal is optimistic that the Nifty 50 will cross to lifetime high levels near Rs 39,500 levels soon
Around 24.78 crore shares worth Rs 674 crore changed hands on February 19 on the exchanges.
The stock of Yes Bank has surged 13 percent in the past one month, as against 1 percent decline in the benchmark Sensex.
According to data provided by BSE, Carlyle Group sold 1.35 percent stake in Yes Bank through open market transactions.
Yes Bank touched a 52-week high.
Earlier, media reports said that SBI is likely to sell its entire stake in Yes Bank, with a block deal being the preferred mode of sale.
While RBI's approval is sentimentally positive for the six stocks in the near term, it does not mean that HDFC's stake will necessarily go up to 9.5 percent in those six banks