Yes Bank, India's sixth-largest private lender, plans to sell up to 51% of its stake for $8-9 billion, facilitated by Citigroup's India unit. Discussions with banks in Japan, West Asia, and Europe are underway.
Approval from the Reserve Bank of India is required for any new promoter owning over 26%. Major shareholders, including State Bank of India and HDFC Bank, seek an exit. Yes Bank's improved performance post-2020 rescue makes it an attractive investment.