May 13, 2025

Yes Bank, on its sale of 20% stake by SBI along with other private sector lenders, to Japan-based Sumitomo Mitsui Banking Corporation.

AZB & Partners acted for Yes Bank, in a transaction where SBI along with other private sector lenders, have agreed to sell 20% of Yes Bank’s stake to Japan-based Sumitomo Mitsui Banking Corporation for approx. INR 13,400 crores, in the largest cross-border deal in the Indian banking sector. AZB played a key role in diligence, structuring and negotiations.

Our transaction team comprised our Senior Partner Vaidhyanadhan Iyer, Partners Abhilash Chandran and Bhargavy Ramesh, Senior Associate Priyasha Goyal, Associates Manhar Chaudhary and Pavit Kaur. They were supported by Senior Partner Gautam Ganjawala on the regulatory side, Senior Associate Rhea Ghanshani, Associates Sanghamitra Sengupta, Prithviraj Khanna and Rishav Sen on the due diligence; Partner Ajay Singh Solanki and Associate Shloka Jain on the employment diligence; Partner Malini Raju and Senior Associate Prannathi Ajith Kumar on the real estate diligence; and Partner Vivek Shetty, Senior Associate Dhaval Vora, Associates Devanshi Jhaveri and Naman Nayyar on litigations aspects.

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