India-based digital wallet company Paytm, a unit of One97 Communications Ltd., is in talks to acquire a stake in Yes Bank Ltd. from the bank's co-founder Rana Kapoor, Mint reported Sept. 10, citing people familiar with the matter.
Kapoor and associated entities own a 9.6% stake in the private sector bank. Since Paytm founder Vijay Sharma already holds a stake in Paytm Payments Bank, a structure of the possible deal involving a stake in Yes Bank would depend on the central bank's approval.
Paytm declined to comment, while Kapoor could not be reached for comments.
Meanwhile, Yes Bank Managing Director and CEO Ravneet Gill said the bank is in advanced talks to sell a minority stake to a global technology company, Mint reported separately. The stake to be sold initially will likely be less than 10%, Gill said, adding that the potential buyer is one of the world's top three technology companies that had not previously invested in a bank.
