SBI to buy 725 crore shares of Yes Bank at Rs.10 per share

March 12, 2020 04:02 pm | Updated 06:24 pm IST - Mumbai

The executive committee of central board of State Bank of India has approved purchase of 725 crore shares of Yes Bank at ₹10, the country's largest lender said in a communication to the stock exchanges.

Also read | In RBI bailout, SBI to pick up 49% stake for ₹2,450 crore

SBI said the bank's shareholding in Yes Bank will remain within 49% of the paid up capital of Yes Bank.

"We advise that Executive Committee of Central Board (ECCB) at its meeting held on 11.03.2020 accorded approval for purchase of 725 crore shares in Yes Bank Ltd. at a price of ₹10 per share subject to all regulatory approvals. Our shareholding in Yes Bank Ltd. will remain within 49% of the paid up capital of Yes Bank," the communication said.

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