State Bank of India may look to lower its stake in Yes Bank after a lock-in period ends on March 6 which was put in place by the central bank as a part of the lender’s restructuring, two sources told Reuters.
SBI, India’s largest bank, does not want to permanently retain a stake in Yes Bank and would want to trim its holdings, albeit in phases, one of the sources told Reuters on condition of anonymity.
“The percentage of equity dilution that the bank intends to do will have to be placed before the RBI (Reserve Bank of India) in due course.”
SBI held a 26.14% stake in Yes Bank as of December 31, stock exchange data showed, and is the largest single shareholder in the rescued lender.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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