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SBI, LIC to acquire half of YES Bank at Rs 2 per share

SBI, LIC to acquire half of YES Bank at Rs 2 per share

Thursday, March 5, 2020, 5:40 PM

SBI and LIC are set to pick up 49% stake in YES Bank by acquiring preferential shares in the private lender at Rs 2 per share, sources told ET NOW. SBI will likely be given exemption from open offer. It should be noted that a similar exemption was given to the lender in case of Union Bank of India in November 2019.
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