SBI, ICICI Bank acquire 9.54% stake in Perfios AA for Rs4.03 crore each

29 Jun 2022 , 02:09 PM

State Bank of India and ICICI Bank Limited informed that they have entered into an agreement dated June 28, 2022, to make an investment in the equity shares of Perfios Account Aggregation Services Private Limited (Perfios AA).

Perfios AA is an RBI-registered NBFC-Account Aggregator engaged in providing account aggregation services.

State Bank of India (SBl) and its associates/subsidiaries, in the normal course of business, may have business dealings with Perfios AA at arm’s length.

This investment would be subject to the Reserve Bank of India’s approval.

The transaction is for a cash consideration of Rs4.03 crore, at a price of Rs50 per share.

SBI and ICICI Bank each will hold 9.54% (on a fully diluted basis) of Perfios AA following the investment through the subscription of 8,05,520 equity shares.

Perfios AA is required to obtain RBI approval for the proposed change in its shareholding under the RBI NBFC-AA Master Directions, 2016.

At around 2.13 PM, ICICI Bank was trading at Rs703.60 down by Rs6.4 or 0.9% from its previous closing of Rs710 on the BSE. State Bank of India was seen at Rs461.35 down by Rs3 or 0.65% from its previous closing of Rs464.35 on the BSE.