Shares of Yes Bank Limited (NSEI:YESBANK) jumped 8.5% to INR 22.75 in March 14, 2024 trade on BSE amid reports that the private lender is looking for a new promoter. According to a report by Livemint, the bank is considering selling up to 51% of its stake, aiming for a target valuation ranging between $8 billion - $9 billion. This marks a notable increase from its current market capitalization of $7.2 billion.

Citigroup's India unit has been enlisted to facilitate the search for a potential buyer. Yes Bank has extended invitations to several Indian lenders, including existing shareholders, to partake in this endeavour.