FEBRUARY 08, 2024
“The SBI Board is poised to deliberate on the sale of Yes Bank shares imminently, aiming to utilize the proceeds to enhance liquidity within the balance sheet.”
State Bank of India is poised to divest its entire stake in Yes Bank, potentially through a block deal valued between Rs 5000-7000 crore, as per CNBC Awaaz sources. This move comes with no tax implications and no lock-in period for SBI, signaling a strategic shift in liquidity management. The SBI Board is set to deliberate on this decision, aiming to fortify balance sheet liquidity. Additionally, opting for a block deal could circumvent equity dilution concerns for capital augmentation, as highlighted by CNBC Awaaz. Notably, a substantial block deal involving 23.55 crore Yes Bank shares was executed on Thursday, underscoring market activity in the stock.