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News on Medial
Yes Bank Crisis to Resolve? Here's Everything You Need to Know as Sumitomo Steps In
OutlookIndia
·
3m ago
Medial
Yes Bank is undergoing a significant shareholding change as Japan's Sumitomo Mitsui Banking Corporation (SMBC) plans to acquire a majority stake. This shift follows past liquidity crises and regulatory interventions, including the Reserve Bank of India's (RBI) and State Bank of India's (SBI) involvement. The potential deal, which would include a 24% initial purchase, aims to restructure Yes Bank's ownership and improve governance, pending final regulatory approval from the RBI.
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SMFG said to eye $1.1 billion additional deal for Yes Bank
Livemint
·
24d ago
Medial
Sumitomo Mitsui Financial Group (SMFG) is reportedly planning to make an additional $1.1 billion investment in Yes Bank, following a prior investment two months ago. This would bring SMFG's total investment to $2.7 billion, granting them a 25% stake in the Indian bank. The Japanese bank aims to acquire around 5% of Yes Bank shares from Carlyle Group and other minority shareholders, as well as $680 million in convertible bonds, supporting Yes Bank’s growth.
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Sumitomo Mitsui Banking to buy 20% stake in YES Bank from SBI, others
VCCircle
·
3m ago
Medial
Japanese financial giant Sumitomo Mitsui Banking Corporation (SMBC) plans to acquire a 20% stake in YES Bank, marking a significant cross-border transaction in India’s banking sector. SBI, holding 23.97% of YES Bank, along with other lenders, will sell shares at Rs 21.5 each. The entire deal is valued at Rs 13,483.16 crore ($1.58 billion). The transaction, subject to regulatory approvals, aims to enhance YES Bank’s growth and SMBC’s presence in India.
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'Sumitomo Mitsui Banking Corp awaiting RBI call to buy 25% in Yes Bank'
Economic Times
·
24d ago
Medial
Sumitomo Mitsui Banking Corp (SMBC) has applied to India's banking regulator to acquire up to a 25% stake in Yes Bank, beyond the 20% it agreed to buy in May from various Indian banks. This expansion requires approval from the Reserve Bank of India. The move signifies SMBC's strategic interest in increasing its investment in Yes Bank, potentially involving an additional investment of $1.1 billion, as per recent media reports.
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Grapevine: Mizuho withdraws from Yes Bank race; K Hospitality eyes IPO
VCCircle
·
1y ago
Medial
Japanese financial giant Mizuho has withdrawn from the race to acquire a stake in Yes Bank, leaving Sumitomo Mitsui Banking Corporation (SMBC) and Emirates NBD as the main contenders. Yes Bank is looking for a new owner after facing financial challenges in recent years. In other news, K Hospitality, an Indian hotel chain, is considering going public with an initial public offering (IPO) to raise funds for expansion and development.
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First Abu Dhabi Bank says not evaluating any offer for stake in Yes Bank
Money Control
·
1y ago
Medial
First Abu Dhabi Bank PJSC has denied reports that it is evaluating an offer for a stake in YES Bank. Bloomberg previously reported that the Middle Eastern lender was considering a bid for up to a 51% stake in Yes Bank. Other potential suitors include Japanese banks Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. However, it is unclear whether these parties will proceed with a deal. SBI, which holds a 24% stake in Yes Bank, has also reduced its holding. The tenure of SBI's chairman is set to end in August, potentially causing delays in a deal.
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Ola Electric Cuts Wait Time With 'Hyper Delivery' Service - Here's All You Need to Know
OutlookIndia
·
4m ago
Medial
Ola Electric has introduced a 'Hyper Delivery' service, aiming to streamline the registration and delivery of e-scooters on the same day. By implementing AI, the company automates most registration steps, eliminating middlemen. Currently piloting in Bengaluru, Ola plans to expand this initiative across India. The move follows controversies regarding discrepancies between reported sales and actual registrations. Ola has terminated contracts with two suppliers to resolve registration issues and improve efficiency.
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Startup Lingo – 101 Terms You Need to Know (From A to Z)
Internet
·
3m ago
Medial
Whether you're building on your first startup idea or are a seasoned entrepreneur, there's a good chance you will come across a startup term or phrase you're either unsure of or just need to double-check. We are here to get you up to speed and help decipher all things startup. This definitive word list has everything you need to know to help you on your startup journey. Have this list with you, and you'll always have a reference to be on top of all the jibberish startup lingo 🚀
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Grapevine: Sumitomo Mitsui, YES Bank, KKR and Avaada Group in news
VCCircle
·
3m ago
Medial
Japan's Sumitomo Mitsui Banking Corp. (SMBC) is reportedly near acquiring a significant stake in YES Bank. Meanwhile, private equity firm KKR is attempting to restart the sale of its portfolio company RE Sustainability. Avaada Group is also preparing for an initial public offering.
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Yes Bank Shares Slide Up to 9.5% as After Multiple Block Deals Ahead of Fundraising Meet
OutlookIndia
·
2m ago
Medial
Yes Bank shares fell by up to 9.5% after a 3% equity stake was sold in multiple block deals before a fundraising board meeting, reversing a recent three-day winning streak with a 10% gain. This decline comes despite strong financials, with a 63% YoY rise in Q4FY25 net profit and reduced provisions. The bank's board is considering fundraising through equity or debt securities. Sumitomo Mitsui Banking Corporation is seeking to deepen its stake in Yes Bank.
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SMBC to Seek RBI Nod for Full-Owned Subsidiary Before Yes Bank Stake Deal
StartupTalky
·
2m ago
Medial
Sumitomo Mitsui Banking Corporation (SMBC) plans to seek approval from the Reserve Bank of India (RBI) to establish a fully-owned subsidiary in India. This move is part of their strategy to take over Yes Bank after acquiring a 20% stake from stakeholders, including State Bank of India. SMBC intends to transition from a branch model to a subsidiary model to facilitate this acquisition. They have reportedly received verbal assurance from the RBI regarding controlling interest permissions.
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