Maithan Alloys Acquires 0.007% Stake in State Bank of India for Rs. 60.05 Crore

Maithan Alloys Ltd has acquired 683000 shares of State Bank of India, a public sector bank, through the stock exchange. The acquisition was made on 14th October, 2025, and the company announced the acquisition on 15th October, 2025. The total cost of acquisition was Rs. 60.05 Crore. This acquisition does not give Maithan Alloys control over the management of State Bank of India. The acquired entity, State Bank of India, is a banking and financial services provider with a wide range of products and services. It is governed by the Banking Regulation Act, 1949, and the State Bank of India Act, 1955. The bank has a significant presence in India and 29 foreign countries with 244 Branches/Offices.