The State Bank of India Board of Directors on Tuesday approved the acquisition of the entire stake held by SBI Capital Markets Limited in SBI Cap Venture Limited (SVL) by SBI, the company announced through an exchange filing. The acquisition will be completed after receipt of all regulatory approvals.
The estimated capital for the acquisition is expected to be at Rs 708.07 crore.
The Indian Institute of Technology, Bombay (IIT-B) in a collaboration with the State Bank of India (SBI) Foundation has raised Rs 22.5 crores in grant to establish a banking data and analytics hub at the Institute in Mumbai's Powai.
State Bank of India shares
The shares of State Bank of India Limited on Tuesday closed at Rs 588.90, up by 0.59 per cent.