Latest news with #YesBank
Time of India
2 hours ago
- Business
- Time of India
Yes Bank set to raise up to Rs 16,000 crore
MUMBAI: Yes Bank's board approved several proposals, including a plan to raise Rs 7,500 crore via equity and Rs 8,500 crore via debt, following Japan's Sumitomo Mitsui Banking Corp's planned entry as a strategic investor. The decisions, taken on June 3, mark a shift in the bank's capital structure and governance framework. The proposals are subject to shareholder and regulatory approvals. The board also approved amendments to articles of association, giving SMBC the right to maintain its stake in future share issuances and to nominate two directors to the board. SBI will be allowed to nominate one. These moves give the Japanese bank significant influence in board affairs. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
3 hours 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
4 hours 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 hours 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
Hans India
6 hours ago
- Business
- Hans India
Carlyle Group offloads 2.6% in Yes Bank for ₹1,775 Cr; stock slides over 10%
In a major open market transaction on Tuesday, U.S.-based private equity firm Carlyle Group, through its affiliate CA Basque Investments, sold a 2.6% stake in Yes Bank worth ₹1,775 crore. The transaction involved the offloading of 82 crore shares at a price range of ₹21.61 to ₹21.68 apiece on the NSE and BSE. This stake reduction has brought Carlyle's holding in the Mumbai-based private sector bank down from 6.84% to 4.22%. Despite this high-value transaction, Yes Bank's shares took a hit — falling 10.40% to ₹20.85 on the BSE and 10.01% to ₹20.95 on the NSE. The sale comes shortly after State Bank of India (SBI) and seven other banks announced their intent to divest a 20% stake in Yes Bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC) for ₹13,483 crore — the largest cross-border deal in Indian banking to date. Of this, SBI will offload 13.19% of its holdings for ₹8,889 crore, reducing its stake from 24% to just over 10%. The remaining 6.81% will be divested by Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank, amounting to ₹4,594 crore. SMBC, a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG) — Japan's second-largest banking group with $2 trillion in assets — will emerge as the single-largest shareholder of Yes Bank post-transaction. Meanwhile, Yes Bank continues to show robust financials. For Q4 FY25, the bank reported a 63% jump in standalone net profit at ₹738 crore, compared to ₹451.9 crore in Q4 FY24. Annual net profit for FY25 more than doubled to ₹2,406 crore from ₹1,251 crore a year earlier.
