India, Sept. 17 -- State Bank of India has completed the sale of 13.18% shareholding in Yes Bank Ltd. to Sumitomo Mitsui Banking Corp. for Rs.8,888.97 crore.

The amount has been received from the Japanese financial services company, according to an exchange filing on Wednesday. The transaction was approved by both Reserve Bank of India and the Competition Commission of India. SBI, even after the Yes Bank stake sale, will continue to have a shareholding of 10.8% in the private lender.

It was in March 2020, when SBI picked picked up a 49% stake in Yes Bank for Rs.7,250 crore as part of the RBI's restructuring plan for the then debt-laden private bank. In July 2020, Yes Bank launched a follow-on public offer, wherein SBI picked up more sha...