1 Jun 2009 14:34
To RNS LISTING AGREEMENT: CLAUSE 36HIKE OF STAKE OF STATE BANK OF INDIA IN NEPAL SBI LTD.
In terms of Clause 36 of the Listing Agreement, we advise that the State Bank of India has been allotted 437400 shares in Nepal SBI Ltd. (a Nepal based Joint Venture Bank in which SBI has a shareholding of 50%) in a divestment of stake by Agricultural Development Bank, Nepal conducted through a competitive bid process.
The total shareholding of State Bank of India in Nepal SBI Ltd. will reach 55%, after transfer of these shares to SBI, with due necessary regulatory approvals / clearances.
FromGeneral Manager State Bank Of India