Yes Bank stake sale: Bandhan Bank and Federal Bank trim holdings after SBI exit; check details here

Bandhan Bank sold 15.39 lakh shares of Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) at ₹21.50 per share. This reduced Bandhan Bank’s stake in YES Bank from 0.70% to 0.21%.

Further, The Federal Bank also “sold 166,273,472 equity shares of face value of ₹2.00 each of the Company held by the Bank, in favour of SMBC, at a consideration of ₹21.50 per share,” the lender said in a regulatory filing.

On Wednesday, State Bank of India (SBI) completed its divestment of a 13.19% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC).

The transaction involved the sale of 413.44 crore equity shares of Yes Bank at ₹21.50 per share. SBI stated that the sale was executed after SMBC obtained the necessary approvals from the Reserve Bank of India (RBI) and from the Competition Commission of India (CCI).

Japan’s largest bank struck a ₹13,483-crore ($1.6 billion) deal to acquire a 20% stake in Yes Bank, marking its entry into the Indian banking sector.

Last week, Yes Bank had received approval from the Reserve Bank of India (RBI) for amendments to its Articles of Association. The approval allows two nominee directors to be appointed by SMBC and one by the State Bank of India (SBI) to join the bank’s board of directors. These appointments will happen once the related transactions, as per the agreement, are completed.

SMBC had received the Reserve Bank of India’s (RBI) approval on August 22, 2025, to acquire up to 24.99% of the paid-up share capital of the bank.

Other shareholders are Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank.

After the SBI transaction, SMBC becomes the single-largest shareholder of Mumbai-based Yes Bank.

SBI and the seven investor lenders had invested in the bank as part of the Yes Bank reconstruction scheme in March 2020. The state-owned lender currently holds a 24% stake in Yes Bank and will be left with a little over a 10% stake after the dilution.

SMBC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group, Inc. (SMFG). It is among the leading foreign banks in India, and SMFG's wholly owned subsidiary, SMFG India Credit Company, is among the largest diversified NBFCs in India.

On Wednesday, shares of Yes Bank closed at ₹21.07 per share on the National Stock Exchange, rising 0.29%.

Over a month’s time, the stock has gained 10.3%, while for six months, it has climbed 31%. Since the beginning of the year, the stock has jumped 7.3%.

The private lender’s market capitalisation stands at ₹66,098.40 crore, as of September 17, 2025.

Shares of the bank had touched their one-year high of ₹23.97 apiece on September 16, 2024, while their 52-week low of ₹16.02 was hit on March 12, 2025.