State Bank Of India

State Bank of India (SBI) has approved divestment of entire equity stake of 1 crore equity shares of Rs 10 each (7.41%) held by Bank in Equifax Credit Information Services (ECIS). The Share purchase Agreement (SPA) has been executed between the parties to the transaction on January 15, 2020. The shares will be sold at a price of Rs 67.43 per equity share to be increased as per the terms of the share purchase agreement. The indicative time period for completion of the transaction is Q4FY20.

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.