News From Press SBI okays 4% stake sale in general insurance arm for Rs 482 crore

SBI okays 4% stake sale in general insurance arm for Rs 482 crore

Source: Economic Times Nov 30, 2018

The country's largest lender State Bank of IndiaNSE 0.65 % Thursday approved the sale of 4 per cent stake in SBI General Insurance for Rs 482 crore to two alternative investment funds (AIFs).

The executive committee of SBI at its meeting held Thursday approved the sale of 86.2 lakh shares of Rs 10 each, equalling to 4 per cent stake in its subsidiary SBI General Insurance Company Ltd (SBI GI), for Rs 482 crore

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