State Bank of India (SBI) and SBI Global Factors (SBI GFL, a subsidiary of SBI) have entered into an agreement with SIDBI, Union Bank of India and Bank of Maharashtra on September 2, 2022, in relation to purchase of Equity Shares of SBIGFL held with SIDBI, Union Bank of India and Bank of Maharashtra.
The main objective of acquisition is financial investment. The company has acquired.13.82% equity of Existing Shareholders i.e., SIDBI (6.53%), Bank of Maharashtra (4.34%), Union Bank of India (2.95%).
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.
