SBI to infuse additional capital of Rs67.84 crore in SBI Global Factors; stock under pressure

24 Aug 2022 , 09:21 AM

State Bank of India announced that the Executive Committee of Central Board (ECCB) of the Bank in its meeting held on August 23, 2022, has accorded approval to infuse additional capital of Rs61.95 crore for acquiring the entire stake in SBI Global Factors Limited (SBIGFL).

The bank has drawn reference from its communication letter dated March 29, 2022.

With this additional investment, the bank seeks to acquire the remaining 13.82% stake of existing shareholders of SBIGFL namely SlDBl, Bank of Maharashtra, and Union Bank of India.

At around 9.24 AM, State Bank of India was trading at Rs521.05 down by Rs1 or 0.19% from its previous closing of Rs522.05 on the BSE. The scrip opened at Rs519.50 and touched intraday high and low of Rs522.95 and Rs519.50 respectively.