Latest news with #YESBankReconstructionScheme
News18
4 days ago
- Business
- News18
Yes Bank Shares In Focus As Board Approves Raising Rs 16,000 Crore Via Mix Of Equity, Debt
Last Updated: Yes Bank shares will be in focus on Wednesday as the bank's board has approved raising Rs 16,000 crore Yes Bank Share Price: Yes Bank shares will be in focus on Wednesday as the bank's board has approved raising Rs 16,000 crore through a mix of equity and debt to support business growth. The board approved raising funds by issuing eligible equity securities through various permissible routes, ensuring that the total amount raised would not exceed Rs 7,500 crore and would not result in an aggregate dilution of more than 10 per cent (including dilution from any convertible debt securities). This was disclosed in a regulatory filing on Tuesday. Additionally, the board gave its nod for raising up to Rs 8,500 crore via eligible debt securities, either in Indian or foreign currency, also with the condition that it would not cause a dilution of more than 10 per cent. The board also approved amendments to the Articles of Association of the bank, in line with the share purchase agreement dated May 9 signed by Yes Bank, Sumitomo Mitsui Banking Corporation (SMBC) and State Bank of India (SBI). These amendments are subject to approvals from the Reserve Bank of India and shareholders. The revised Articles of Association would grant SMBC or any of its permitted assignees the right to nominate two non-executive and non-independent directors to the board, in accordance with applicable laws. Similarly, SBI will be allowed to nominate one non-executive and non-independent director. Last month, SBI and seven other lenders agreed to sell 20 per cent of their combined stake in Yes Bank to SMBC for Rs 13,483 crore — the largest cross-border investment in India's banking sector. Upon completion of the deal, SMBC will become the single-largest shareholder of Yes Bank. Of the 20 per cent stake, SBI will dilute 13.19 per cent in favour of SMBC for Rs 8,889 crore, while the remaining 6.81 per cent will be sold by Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank for about Rs 4,594 crore. These banks originally invested in Yes Bank in March 2020 as part of the YES Bank Reconstruction Scheme. After the deal, SBI's stake in Yes Bank will reduce to just over 10 per cent. SMBC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group, the second-largest banking group in Japan with total assets of USD 2 trillion as of December 2024 and a significant global footprint. Yes Bank Q4 Results Yes Bank posted a strong set of numbers in its Q4FY25 results, reporting a net profit of Rs 738 crore, up 63.3% YoY, supported by reduced provisions and steady asset quality. Net interest income (NII) grew 5.7% to Rs 2,276 crore, while net interest margin (NIM) improved to 2.5%. Non-interest income rose by 10.9% to Rs 1,739 crore, and provisions dropped by 32.5% to Rs 318 crore. Advances increased 8.1% YoY to Rs 2.46 lakh crore, and deposits were up 6.8% at Rs 2.85 lakh crore. Asset quality showed improvement, with gross NPA stable at 1.6% and net NPA falling to 0.3%. The bank's board also approved a fundraising plan, underscoring confidence in its growth strategy. Yes Bank is a private sector bank in India that was founded in 2004 by Rana Kapoor and Ashok Kapur. It is headquartered in Mumbai and offers a wide range of banking and financial services, including corporate and retail banking, asset management, and wealth management. First Published: June 04, 2025, 07:57 IST
Mint
4 days ago
- Business
- Mint
Yes Bank bulk deal: Carlyle group sells 2.6% stake in Yes Bank for ₹1,775 crore; stock down 10%
Global investment firm Carlyle group on Tuesday sold a 2.6 per cent stake in private sector lender Yes Bank for ₹ 1,775 crore through open market transactions. The development comes after State Bank of India and seven other lenders last month announced that they will sell 20 per cent of their combined stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation for ₹ 13,483 crore. US-based Carlyle, through its affiliate CA Basque Investments, sold a total of 82 crore shares, representing a 2.62 per cent stake in Mumbai-based Yes Bank on the NSE and BSE, as per the bulk deal data on the bourses. The shares were disposed in the price range of ₹ 21.61-21.68 apiece, taking the combined transaction value to ₹ 1,774.89 crore. After the share sale, Carlyle's arm CA Basque Investments' holding in Yes Bank declined to 4.22 per cent from 6.84 per cent. Details of the buyers of Yes Bank's shares could not be ascertained on the BSE and the National Stock Exchange (NSE). Shares of Yes Bank declined 10.40 per cent to close at ₹ 20.85 apiece on the BSE, and it fell 10.01 per cent to settle at ₹ 20.95 per piece on the NSE. Last month, SBI and seven other lenders announced that they will sell 20 per cent of their combined stake in Yes Bank to Japan's SMBC for a consideration of ₹ 13,483 crore, making it the largest cross-border investment in the Indian banking sector. Following the completion of the transaction, SMBC will become the single-largest shareholder of Mumbai-based Yes Bank. Of the 20 per cent stake, SBI will dilute a 13.19 per cent stake in Yes Bank in favour of SMBC for a consideration of ₹ 8,889 crore, while 6.81 per cent shareholding will be offloaded by seven other lenders, including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank for about ₹ 4,594 crore. SBI and the seven investor lenders had invested in the bank as part of the YES Bank Reconstruction Scheme in March 2020. Mumbai-headquartered SBI, which owned a 24 per cent stake in Yes Bank, will be left with a little over 10 per cent stake after the dilution. SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc (SMFG). SMFG is the second largest banking group in Japan with total assets of USD 2 trillion as of December 2024 with strong global presence. For the fourth quarter ended March 2025, Yes Bank reported a 63 per cent jump in standalone net profit at ₹ 738 crore as compared to ₹ 451.9 crore in the corresponding quarter a year ago.
Mint
5 days ago
- Business
- Mint
Yes Bank bulk deal: Carlyle group sells 2.6% stake in Yes Bank for ₹1,775 crore; stock down 10%
Global investment firm Carlyle group on Tuesday sold a 2.6 per cent stake in private sector lender Yes Bank for ₹ 1,775 crore through open market transactions. The development comes after State Bank of India and seven other lenders last month announced that they will sell 20 per cent of their combined stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation for ₹ 13,483 crore. US-based Carlyle, through its affiliate CA Basque Investments, sold a total of 82 crore shares, representing a 2.62 per cent stake in Mumbai-based Yes Bank on the NSE and BSE, as per the bulk deal data on the bourses. The shares were disposed in the price range of ₹ 21.61-21.68 apiece, taking the combined transaction value to ₹ 1,774.89 crore. After the share sale, Carlyle's arm CA Basque Investments' holding in Yes Bank declined to 4.22 per cent from 6.84 per cent. Details of the buyers of Yes Bank's shares could not be ascertained on the BSE and the National Stock Exchange (NSE). Shares of Yes Bank declined 10.40 per cent to close at ₹ 20.85 apiece on the BSE, and it fell 10.01 per cent to settle at ₹ 20.95 per piece on the NSE. Last month, SBI and seven other lenders announced that they will sell 20 per cent of their combined stake in Yes Bank to Japan's SMBC for a consideration of ₹ 13,483 crore, making it the largest cross-border investment in the Indian banking sector. Following the completion of the transaction, SMBC will become the single-largest shareholder of Mumbai-based Yes Bank. Of the 20 per cent stake, SBI will dilute a 13.19 per cent stake in Yes Bank in favour of SMBC for a consideration of ₹ 8,889 crore, while 6.81 per cent shareholding will be offloaded by seven other lenders, including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank and Kotak Mahindra Bank for about ₹ 4,594 crore. SBI and the seven investor lenders had invested in the bank as part of the YES Bank Reconstruction Scheme in March 2020. Mumbai-headquartered SBI, which owned a 24 per cent stake in Yes Bank, will be left with a little over 10 per cent stake after the dilution. SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc (SMFG). SMFG is the second largest banking group in Japan with total assets of USD 2 trillion as of December 2024 with strong global presence. For the fourth quarter ended March 2025, Yes Bank reported a 63 per cent jump in standalone net profit at ₹ 738 crore as compared to ₹ 451.9 crore in the corresponding quarter a year ago. In FY25, the bank's net profit doubled to ₹ 2,406 crore compared to ₹ 1,251 crore in the preceding fiscal year.
