Sumitomo Mitsui Banking Corporation completed its initial 20% acquisition of India's Yes Bank on 17 September 2025. In the same announcement, SMBC agreed to purchase an additional 4.2% stake from CA Basque Investments, a Carlyle-affiliated entity, in a transaction valued at approximately Rs 28.5 billion, equivalent to roughly $323 million.
The secondary transaction was struck at a per-share price consistent with the valuation established by the initial 20% acquisition. Once the additional purchase from CA Basque Investments closes and the requisite regulatory approvals are obtained, SMBC's aggregate holding in Yes Bank will reach 24.2%.
REGULATORY CONTEXT
Reserve Bank of India regulations impose requirements on shareholders seeking to cross specific ownership thresholds, including fit-and-proper assessments and voting rights caps.