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Corporate News
04-Jul-23
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State Bank of India to acquire 100% stake in SBICAP Ventures
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From SBI Capital Markets
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State Bank of India (SBI) announced that the Executive Committee of the Central Board (ECCB) of the Bank has accorded approval for acquiring the entire stake held by SBI Capital Markets (SBICAPS) (wholly owned subsidiary of SBI) in SBICAP Ventures (SVL) by SBI, subject to receipt of all regulatory approvals. The estimated cost of capital for the said acquisition will be Rs 708.07 crore.
SVL was incorporated as wholly owned subsidiary of SBICAPS in November 2005 with objective to carry on business of asset management, investment management advisors and to set up,
assist in setting up, provide and/or participate in providing venture capital, technology funds or any other funds for seed capital, risk capital foundation, loans etc.
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