SBI rises on inking pact with SIDBI, Union Bank of India, Bank of Maharashtra
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State Bank of India is currently trading at Rs. 568.85, up by 7.25 points or 1.29% from its previous closing of Rs. 561.60 on the BSE.
The scrip opened at Rs. 561.00 and has touched a high and low of Rs. 569.90 and Rs. 559.40 respectively. So far 1689026 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 578.65 on 15-Sep-2022 and a 52 week low of Rs. 425.00 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 578.65 and Rs. 548.30 respectively. The current market cap of the company is Rs. 507185.68 crore.
The promoters holding in the company stood at 57.57%, while Institutions and Non-Institutions held 34.86% and 7.58% respectively.
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.
