The State Bank of India (SBI) on Thursday said that its Executive Committee of Central Board (ECCB) has approved the purchase of 725 crore shares in Yes Bank at Rs 10 per share, which adds up to an investment of Rs 7,250 crore.
In a regulatory filing, the bank said that its shareholding in the private lender will remain within 49 per cent of the paid up capital.
“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 Rs 10 per share subject to all regulatory approvals. Our shareholding in Yes Bank Ltd will remain within 49 per cent of the paid up capital of Yes Bank,” it said.
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