SBI Acquires SBI CAPS Subsidiary for Rs 708 cr
By Rediff Money Desk, NEWDELHI Feb 06, 2024 21:16
State Bank of India (SBI) will acquire SBI CAPS subsidiary for Rs 708.07 crore, acquiring 100% of SBICAPS Venture Ltd (SVL) with assets under management of Rs 33,055 crore.
![SBI Acquires SBI CAPS Subsidiary for Rs 708 cr](https://im.rediff.com/money/2017/jul/31sbi.jpg)
New Delhi, Feb 6 (PTI) State Bank of India (SBI) on Tuesday said it will acquire SBI CAPS subsidiary for Rs 708.07 crore.
SBI plans to acquire 100 per cent of SBICAPS Venture Ltd (SVL) for which all regulatory approvals are in place, the bank said in a filing.
SVL which is in asset management and investment management has assets under management of Rs 33,055 crore at the end of December 2023.
During the nine months, the company recorded a net profit of Rs 42.06 crore.
The proposed transaction of acquisition is being done on an arm's length basis, it said.
The acquisition will be completed by February 25, 2024, it added.
SBI plans to acquire 100 per cent of SBICAPS Venture Ltd (SVL) for which all regulatory approvals are in place, the bank said in a filing.
SVL which is in asset management and investment management has assets under management of Rs 33,055 crore at the end of December 2023.
During the nine months, the company recorded a net profit of Rs 42.06 crore.
The proposed transaction of acquisition is being done on an arm's length basis, it said.
The acquisition will be completed by February 25, 2024, it added.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...