Investment21 Jul 2025, 06:42 pm
Life Insurance Corporation of India Acquires 9.49% Stake in State Bank of India for Rs. 5000 Crore
AI Summary
The Life Insurance Corporation of India (LIC) has acquired equity shares of the State Bank of India (SBI), increasing its shareholding from 81,46,59,869 to 87,58,59,380, which is 9.21% to 9.49% of the paid-up capital of SBI. The acquisition was done through a QIP at a cost of Rs. 5000 crore and the credit of shares is expected to commence on 24th July 2025. SBI, a Fortune 500 company, is the largest banking and financial services organization in India with an asset base of over Rs. 61 B trillion and serves over 50 crore customers.
Key Highlights
- LIC has acquired 9.49% stake in SBI for Rs. 5000 crore.
- The acquisition was done through a QIP.
- The credit of shares is expected to commence on 24th July 2025.
- SBI is the largest banking and financial services organization in India.
- SBI serves over 50 crore customers.