State Bank of India Acquires 7.45% Stake in Raajmarg Infra Investment Managers Pvt. Ltd.

State Bank of India (SBI) has subscribed to 5,10,000 equity shares of Raajmarg Infra Investment Managers Private Limited through a Rights Issue. Post-acquisition, SBI will hold 14,90,000 shares, amounting to a 7.45% stake in the company. The target entity, Raajmarg Infra Investment Managers Pvt. Ltd., is a Category: Asset Company Management with an authorized capital of Rs. 20 crore and a paid-up capital of Rs. 20 crore. The company is yet to commence operations and will act as an Investment Manager for a proposed public InvIT to be sponsored by the National Highway Authority of India (NHAI). The acquisition is a cash consideration of Rs. 10 per share. The investment is being made to incorporate the company, which will provide services to the InvIT.