SBI to divest stake in SBI Life
12th Sep 2019

State Bank of India (SBI) has received approval for divestment of 3.50 crore plus 1 crore equity shares constituting 3.5% with an oversubscription upto 1% of its stake in SBI Life to achieve Minimum Public Shareholding of 25% (Part of Bank's share for MPS) through Offer for Sale process through Stock Exchange mechanism as per the regulatory prescription.

The Executive Committee of Central Board (ECCB) of the bank at its meeting held on September 11, 2019 has approved the same.

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.