S&R Associates Represented State Bank Of India And Seven Private Sector Banks In Yes Bank Stake Sale To Sumitomo Mitsui Banking Corporation
S&R Associates represented State Bank of India and seven private sector banks in Yes Bank stake sale to Sumitomo Mitsui Banking Corporation
The leading Indian law firm, S&R Associates represented State Bank of India and seven listed private sector banks — HDFC Bank Limited, Kotak Mahindra Bank Limited, Axis Bank Limited, ICICI Bank Limited, IDFC First Bank Limited, Bandhan Bank Limited, and Federal Bank Limited — in the INR 134.83 billion sale of an aggregate 20% stake in Yes Bank Limited, a listed private sector bank, to Sumitomo Mitsui Banking Corporation, part of Sumitomo Mitsui Financial Group, Inc.
This transaction is the largest cross-border investment in an Indian private sector bank.
The S&R Associates team was led by Rajat Sethi (Partner) and Dhruv Nath (Partner), and included Srikari Kancherla (Associate) and V. Sreedharan (Associate) on corporate matters. Simran Dhir (Head – Competition Practice) and Akshat Kulshrestha (Partner) advised on competition law matters. Sumit Bansal (Partner), Shivani Chhabra (Counsel), and Taranjeet Singh (Associate) advised on direct tax matters, while Ajinkya Gunjan Mishra (Partner) and Avani Tewari (Associate) advised on indirect tax matters.
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