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Breaking SBI and LIC to acquire half of YES Bank!

hike

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SBI and LIC are set to pick up 49 per cent stake in YES Bank by acquiring preferential shares in the private lender at Rs 2 per share, sources told ET NOW. The two state-run firms will acquire the stake for Rs 490 crore, the report added.

SBI will likely be given exemption from open offer. It should be noted that a similar exemption was given to the lender in case of Union Bank of India in November 2019.

Yes Bank shares: SBI and LIC to acquire half of YES Bank at Rs 2 per share - The Economic Times
 
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