Yes Bank clarifies on SMBC stake buzz; terms media reports as speculative
By Aditya Bhagchandani Published on May 6, 2025, 12:51 IST
Yes Bank Limited has officially denied the accuracy of a recent media report claiming that Japan's Sumitomo Mitsui Banking Corporation (SMBC) is in advanced talks with State Bank of India (SBI) to acquire a significant stake in the private lender.
In a clarification filed with the National Stock Exchange on May 6, Yes Bank stated that while the bank routinely explores growth opportunities with stakeholders to enhance shareholder value, the discussions mentioned in the article are preliminary and 'do not warrant a disclosure under Regulation 30 of the SEBI LODR Regulations, 2015.'
The bank also termed the claims in the media report as 'speculative' and 'not factually correct,' and said there is no undisclosed information requiring regulatory disclosure at this time.
The report from The Economic Times had earlier suggested that SMBC was exploring a potential acquisition exceeding 5.1% in Yes Bank, which could trigger an open offer under SEBI rules. It also noted SBI's 23.97% stake, with HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, LIC, Advent International, and Carlyle as other major shareholders.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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