SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • News From Press SBI approves 4 pct stake sale in insurance arm for Rs 482 crore

    SBI approves 4 pct stake sale in insurance arm for Rs 482 crore

    Source: Financial Express Oct 27, 2018

    State Bank of India (SBI) on Wednesday decided to offload 4% of its stake in SBI General Insurance, its general insurance arm, for Rs 482 crore to an alternative investment fund promoted by Axis AMC and Premji Invest.

    Post this transaction, SBI General Insurance will be valued at around Rs 12,000 crore.

    The initial public offering (IPO) of SBI General Insurance is due in the coming financial year.

    The stake has been sold to Axis New Opportunities AIF – I represented through its investment manager Axis AMC and PI Opportunities Fund – I, an AIF of Premji Invest at 1.65% and 2.35% stake respectively from SBI.

    Click here to read more>>

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.
    Cafemutual is an independent media platform and focuses on providing knowledge and information for the benefit of finance professionals. We do not promote any particular brand or asset category.