New Delhi, May 12 -- Yes Bank share price rallied over 8% in early trade on Monday after Japan's Sumitomo Mitsui Banking Corporation announced to acquire a 20% stake in the lender from State Bank of India (SBI)-led consortium. Yes Bank shares jumped as much as 8.7% to Rs.21.74 apiece on the BSE.

SBI, along with seven other banks, has agreed to divest a combined 20% stake in Yes Bank to SMBC for a total consideration of Rs.13,483 crore. Upon completion of the transaction, SMBC will become the single largest shareholder of Mumbai-based Yes Bank.

Of the total 20% stake on offer, SBI will offload a 13.19% stake for Rs.8,889 crore, while the remaining 6.81% will be sold by seven other financial institutions - Axis Bank, Bandhan Bank, Federal...