Sumitomo Mitsui Banking Corporation entered into Share Purchase Agreement to acquire 2.75% stake in Yes Bank Limited (NSEI:YESBANK) from HDFC Bank Limited (NSEI:HDFCBANK) for INR 18.5 billion on May 9, 2025. A cash consideration valued at INR 21.5 per share will be paid by Sumitomo Mitsui Banking Corporation.

The transaction is subject to approval by regulatory board / committee and subject to antitrust regulations. Transaction has already been approved by Yes Bank's board. As on August 23, 2025, RBI approved the transaction. As on September 2, 2025, SMBC has intimated the Bank that the Proposed Transaction has been approved by the Competition Commission of India.

Citigroup Global Markets India Private Limited acted as financial advisor for Yes Bank Limited. Zia Mody, Vaidhyanadhan Iyer, Gautam Ganjawala, Abhilash Chandran and Bhargavy Ramesh of AZB & Partners acted as legal advisor for Yes Bank Limited. Anderson Mori & Tomotsune acted as legal advisor for Sumitomo Mitsui Banking Corporation. JPMorgan Securities Japan Co., Ltd. acted as financial advisor for Sumitomo Mitsui Banking Corporation. Jefferies Limited acted as financial advisor for Sumitomo Mitsui Banking Corporation. Vikram Raghani, Bir Bahadur Sachar, Anish Mashruwala, Pratish Kumar, Sumitava Basu, Nisha Kaur Uberoi and Harshita Singh Parmar of J. Sagar Associates acted as legal advisor for Sumitomo Mitsui Banking Corporation.

Sumitomo Mitsui Banking Corporation completed the acquisition of 2.75% stake in Yes Bank Limited (NSEI:YESBANK) from HDFC Bank Limited (NSEI:HDFCBANK) on September 18, 2025.