Latest news with #SumitomoMitsuiBankingCorporation
Time of India
6 days ago
- Business
- Time of India
Yes Bank secures board approval to raise Rs 15,000 crore in equity and debt capital
Mumbai: Yes Bank announced late Tuesday its board has approved raising up to ₹7,500 crore in equity capital and ₹8,500 crore through debt instruments during FY26. The fundraising will be executed in multiple tranches, both in domestic and international markets. In a regulatory filing, the private sector lender stated that the equity capital will be raised through various permissible instruments, ensuring that the total dilution does not exceed 10%. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like O carro de Paolla Oliveira choca o mundo inteiro, a prova em fotos! 33 Bridges Undo The board has also cleared a resolution to raise debt capital via instruments denominated in Indian or foreign currency, totaling ₹8,500 crore. To support its strategic agreement with Japan's Sumitomo Mitsui Banking Corporation (SMBC), the bank will amend its Articles of Association. An approval to raise fresh equity will enable SMBC to infuse new capital in the bank and raise its stake. SMBC signed a definitive agreement on May 9 to acquire a 20% stake in Yes Bank for ₹13,483 crore through a secondary market transaction. As part of the agreement, SMBC will receive pro-rata pre-emptive rights to subscribe to future equity issuances by Yes Bank to maintain its stake. It will also be entitled to nominate two non-executive and non-independent directors to the board. State Bank of India (SBI), a key stakeholder, will retain the right to appoint one nominee director. Live Events Yes Bank last raised ₹15,000 crore in July 2020 through a follow-on public offer. In March 2022, the bank secured ₹8,887 crore from global private equity firms Carlyle and Advent International by issuing shares on a preferential basis. Both investors acquired a 9.99% stake in the bank. At the end of March 2025, Yes Bank had a common equity tier 1 (CET1) ratio of 13.5% while its capital adequacy ratio stood at 15.6%.
Mint
6 days ago
- Business
- Mint
Yes Bank fundraising: Yes Bank board approves raising funds worth ₹16,000 crore by issuing equity, debt securities
Yes Bank has announced the outcome of the board meeting on its fundraising plans. The bank has approved raising of funds by the way of issue of eligible equity securities and debt securities. Along with this, the private lender's board has also announced amendments to the Articles of Association pursuant to the terms of the share purchase agreement dated May executed by and amongst the lender, Sumitomo Mitsui Banking Corporation and State Bank of India . Japanese banking giant SBMC will be acquiring a 20 per cent stake in Yes Bank. The private lender will raise funds by the issuance of equity securities along with debt securities. Yes Bank board has approved raising up to ₹ 7500 crore via securities and up to ₹ 8500 crore via debt. In total, Yes Bank will raise ₹ 16,000 crore combining the both. "We wish to inform that the Board of Directors of the Bank at its meeting held today i.e., June 03, 2025 has inter alia, considered and approved the following: (1) raising of funds by way of issuance of eligible equity securities through various permissible means, provided that aggregate amount to be raised by issuance of such securities shall not exceed ₹ 7,500 crore and shall not result in an aggregate dilution of more than 10% (including dilution on account of issuance of equity securities in terms of this item and conversion of any convertible debt securities approved by the Board), as an enabling resolution as per the requirements of applicable laws, which shall be subject to approval of the shareholders and other regulatory and/or statutory approvals, as applicable
Mint
6 days ago
- Business
- Mint
Yes Bank fundraising: Yes Bank board approves raising funds worth ₹16,000 crore by issuing equity, debt securities
Yes Bank has announced the outcome of the board meeting on its fundraising plans. The bank has approved raising of funds by the way of issue of eligible equity securities and debt securities. Along with this, the private lender's board has also announced amendments to the Articles of Association pursuant to the terms of the share purchase agreement dated May executed by and amongst the lender, Sumitomo Mitsui Banking Corporation and State Bank of India . Japanese banking giant SBMC will be acquiring a 20 per cent stake in Yes Bank. The private lender will raise funds by the issuance of equity securities along with debt securities. Yes Bank board has approved raising up to ₹ 7500 crore via securities and up to ₹ 8500 crore via debt. In total, Yes Bank will raise ₹ 16,000 crore combining the both. "We wish to inform that the Board of Directors of the Bank at its meeting held today i.e., June 03, 2025 has inter alia, considered and approved the following: (1) raising of funds by way of issuance of eligible equity securities through various permissible means, provided that aggregate amount to be raised by issuance of such securities shall not exceed ₹ 7,500 crore and shall not result in an aggregate dilution of more than 10% (including dilution on account of issuance of equity securities in terms of this item and conversion of any convertible debt securities approved by the Board), as an enabling resolution as per the requirements of applicable laws, which shall be subject to approval of the shareholders and other regulatory and/or statutory approvals, as applicable (2) raising of funds by way of issuance of eligible debt securities in Indian or foreign currency, provided that aggregate amount to be raised by issuance of such securities shall not exceed ₹ 8,500 crore and shall not result in an aggregate dilution of more than 10% (including dilution on account of conversion of convertible debt securities in terms of this item and any other issuance of equity securities as approved by the Board), in one or more tranches and/or series, in domestic and /or overseas market, as an enabling resolution as per the requirements of applicable laws, which shall be subject to approval of the shareholders and other regulatory and/or statutory approvals, as applicable
Time of India
03-06-2025
- Business
- Time of India
Yes Bank shares in focus ahead of board meeting on fundraising plans
Yes Bank shares are expected to remain in focus on Tuesday, June 3, as the private lender's board meets to consider fundraising proposals. The stock surged over 8% on Monday, making it the third-best performer on the Nifty 500 index, following media reports that Sumitomo Mitsui Banking Corporation (SMBC) is seeking regulatory approval to operate a wholly-owned subsidiary in India. The move was speculated as part of SMBC's strategy to eventually acquire a controlling stake in Yes Bank. In a clarification to the exchanges early Tuesday, Yes Bank denied knowledge of such developments. 'The bank is not privy to any such discussions. Further references to the bank having 'road map' discussions with the RBI are factually incorrect,' it said. Also Read: Technical picks: HDFC Life, Pidilite Industries among 5 stocks that can rally up to 20% in short term The board will consider fundraising through equity shares, debt instruments, or other securities via methods such as private placement or preferential issue, as permitted under applicable laws. In May, SMBC had announced plans to acquire a 20% stake in Yes Bank from a consortium led by State Bank of India , which had stepped in to rescue the lender during its 2020 crisis. The deal values the bank at just over $8 billion. Yes Bank Share Price Target and Performance According to Trendlyne, the average target price for Yes Bank is Rs 16, suggesting a downside of around 29% from current levels. Of the 12 analysts tracking the stock, the consensus rating is 'Sell'. Also Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list On Monday, Yes Bank shares closed at Rs 23.27 on the BSE, up 8.4%, even as the benchmark Sensex edged down 0.09%. The stock is up 19% so far in 2025 and has gained 39% over the past three months. Its market capitalisation currently stands at Rs 72,976 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The Star
19-05-2025
- Business
- The Star
Banking boost for JS-SEZ
Strategic partnership: Rafizi (left) and Onn Hafiz at JS-SEZ Partners Dialogue Advancing Facilitation. — LOW LAY PHON/The Star Six major financial institutions roped in to support investment growth KUALA LUMPUR: Six major financial institutions – both local and international – have been roped in to support investment growth in the Johor-Singapore Special Economic Zone (JS-SEZ). The six are Bank of America, HSBC, Sumitomo Mitsui Banking Corporation, CGS International Securities, Maybank and CIMB. Economy Minister Datuk Seri Rafizi Ramli said strategic partnerships were forged with the banks to galvanise private sector involvement and anchor capital flows within the zone. He said the ties with local banks and those from the West and East would reinforce investor confidence and accelerate economic activity. 'From the West, we have the likes of Bank of America and HSBC. From the East, we have Sumitomo Mitsui Banking Corporation and CGS International Securities. 'Maybank and CIMB round out the list of six,' he said in his speech at the JS-SEZ Partners Dialogue: Advancing Facilitation held here yesterday. Also present was Johor Mentri Besar Datuk Onn Hafiz Ghazi. Rafizi said the government will also launch the JS-SEZ Blueprint – which would serve as a one-stop reference document for investors, policymakers and the public – by the end of this year. Malaysia and Singapore have, for the first time, agreed to establish a joint task force to explore the framework for the special economic zone. The two nations signed a Memorandum of Understanding (MoU) in January and set a two-year timeline to finalise the agreement. Singapore is currently Johor's second largest foreign investor, contributing approximately 70% of the state's total foreign direct investment (FDI) in the manufacturing sector. Rafizi said the true measure of JS-SEZ's success lies not in signing agreements, but in delivering implementation. The implementation of the JS-SEZ, he said, would rest on four key pillars. The first focuses on financing support for strategic sectors such as the green economy, digital innovation and creative industries. The second and third pillars involve promotion and stakeholder engagement, leveraging the global networks of partner banks. Rafizi said this includes outreach through corporate bankers and private wealth advisors to showcase opportunities to multinational corporations (MNCs), private equity firms, family offices and individual investors. The fourth pillar centres on research and market intelligence, including regular economic outlook reports, market analyses and sector-specific insights to inform policy development. Meanwhile, the Johor state government is confident that it will surpass RM50bil in investments by the end of 2025, beating the RM48.5bil record set last year. Onn Hafiz attributed this optimism to the strong investor response to the JS-SEZ, which has evolved from a policy concept into a functioning driver of economic transformation. 'This is not just growth. This is momentum with meaning. This is proof that the JS-SEZ is working as a real engine of investment attraction and economic transformation,' he said. In the first quarter of 2025 alone, Johor recorded RM27.4bil in approved investments, a volume that took nine months to achieve in 2024. Another RM23bil in potential investments is expected to be finalised by the end of this quarter. In February, Onn Hafiz said the state government, in collaboration with federal ministries and agencies, launched the Invest Malaysia Facilitation Centre-Johor (IMFC-J) as a one-stop centre to streamline investor processes in the JS-SEZ. 'In just over two months, IMFC-J has received more than 300 investor enquiries, with 100 focused on the Forest City Special Financial Zone alone,' he said. So far, five major projects worth RM16.5bil have been fully facilitated through IMFC-J, with processing times shortened from three months to as little as one day. Active negotiations are also ongoing with 47 investors involving potential investments totalling RM40.1bil, he added.
