State Bank of India (SBI) has acquired over 6.82 percent stake in Zero Mass in a share transfer purchase agreement. Zero Mass (formerly Zero Microfinance and Savings Support) is a business correspondent and business facilitator.
The deal is to be completed by March 31, 2020. SBI will get 6,825 equity shares, which is 6.825 per cent of the target company (Zero Mass), which had a turnover of Rs 97 crore in 2018-19. It is a part of the negotiated deal consideration where SBI sold its entire stake in A Little World to the target company Zero Mass.
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.
