Sbi Gets Approval For Buyout Of Sbicaps Stake In Svl For Rs 708 Crore

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

SBI gets approval for buyout of SBICAPS stake in SVL for Rs 708 crore

ri-calendar-2-lineJul 5, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

The Executive Committee of the Central Board (ECCB) has authorized the acquisition by the State Bank of India (SBI) of the entire share held by SBI Capital Markets in SBICAP Ventures (SVL). The endorsement was given on July 4, 2023.

In order to buy the 6,03,80,000 equity shares or the whole stake now owned by SBICAPS in SVL, SBI had made a proposal. An estimated $708.07 crore will be spent on the proposed transaction.

SBI's share price increased by 3.80 or 0.65% to close at 589.20 on the BSE. The market value of SBI is around 5.26 lakh crore. A totally owned subsidiary is SBICAPs. Arm's length negotiations are to be used to complete the planned transaction. The purchase of SVL by SBI is being done to improve governance. 

All governmental approvals, including RBI, are required for the transaction. On November 10, 2005, SVL was established as a fully owned subsidiary of SBICAPS with the goal of conducting asset management and investment management advisor business, as well as to establish, help establish, provide, and/or participate in providing venture capital, technology funds, or any other funds for seed capital, risk capital foundation, loans, etc. The purchase of a 20% stake in SBI Pension Funds (SBIPFPL), which is currently owned by SBICAPS, was proposed by SBI last week on June 28. 

Currently, SBI, the holding company of SBIPFPL, owns 60% of the business. The transaction will cost approximately Rs. 229.52 crore.

Source: Media reports

Related News

News Thumbnail
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

News Thumbnail
Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

News Thumbnail
Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

News Thumbnail
Company

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr

4 mins read. August 2, 2024 at 12:33 PM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions