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SBI to divest 4% stake in SBI General Insurance for Rs 481.73 crore

27 Sep 2018 Evaluate

State Bank of India (SBI) has received an approval for divestment of 86,20,000 equity shares constituting 4% stake in SBI General Insurance Company at a total consideration of Rs 481.73 crore to Axis New Opportunities AIF-I (Axis AMC) and PI Opportunities Fund-I (Premji) subject to all regulatory approvals. The Executive Committee of Central Board (ECCB) in its meeting held on September 26, 2018, approved the same.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

Peers
Company Name CMP
State Bank Of India 961.00
PNB 122.50
Bank Of Baroda 238.50
Canara Bank 118.35
Union Bank Of India 185.20
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