YESBANK Announces Update on Proposed Acquisition by Sumitomo Mitsui Banking Corporation

Yes Bank has announced that Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India to acquire up to 24.99% of the paid-up share capital/voting rights of the Bank. This approval is valid for one year and is subject to various conditions, including compliance with the Banking Regulation Act, 1949, RBI's Master Direction and Guidelines, and other applicable laws. The consummation of the proposed acquisition is also subject to approval from the Competition Commission of India and customary conditions.

Key Takeaways:

• Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India to acquire up to 24.99% of Yes Bank's paid-up share capital/voting rights.
• The approval is valid for one year from the date of the RBI letter dated August 22, 2025.
• The acquisition is subject to compliance with the Banking Regulation Act, 1949, RBI's Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies, and other applicable laws.
• The consummation of the proposed acquisition is also subject to approval from the Competition Commission of India.
• The acquisition will not result in SMBC being treated as a promoter of Yes Bank, as per RBI's clarification.
• The relevant provisions of the Foreign Exchange Management Act, 1999, are also applicable to the acquisition.
• Yes Bank will host the information on its website, www.yesbank.in, as per SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Statistics:

• 24.99%: The maximum percentage of Yes Bank's paid-up share capital/voting rights that SMBC is allowed to acquire.
• 13.19%: The percentage of stake being purchased from State Bank of India.
• 6.81%: The aggregate percentage of stakes being purchased from 7 other shareholders of Yes Bank, including Axis Bank Limited, Bandhan Bank Limited, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited, and Kotak Mahindra Bank Limited.

Sources:

• Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, as amended.
• Reserve Bank of India (RBI) Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies.
• RBI letter dated August 22, 2025.
• Yes Bank's stock exchange disclosure dated May 09, 2025.
• Yes Bank's website, www.yesbank.in.