SBI to take up to 49% stake in Yes Bank with 3-year lock-in period: Sitharaman
- 4 years ago
New Delhi, Mar 13: Union Minister of Finance Nirmala Sitharaman on March 13 informed about Centre’s decision of reviving Yes Bank. She said that State Bank of India to invest up to 49% of equity in Yes Bank and other investors are also being invited for the same.
“There will be 3 years lock-in period for SBI for up to 26% of their investment. For others, there will be a lock-in period of 3 yrs of 75% of their investment,” she said.
“Authorised capital has been raised from Rs 1100 crores to Rs 6200 crores of Yes Bank to accommodate immediate and subsequent raising of capital requirements,” the Finance Minister added.
“There will be 3 years lock-in period for SBI for up to 26% of their investment. For others, there will be a lock-in period of 3 yrs of 75% of their investment,” she said.
“Authorised capital has been raised from Rs 1100 crores to Rs 6200 crores of Yes Bank to accommodate immediate and subsequent raising of capital requirements,” the Finance Minister added.