Re Joint Venture

27 Oct 2008 07:00

LISTING AGREEMENT: CLAUSE 36

In terms of Clause 36 of the Listing Agreement, we advise that the State Bank of India, on 24th October, 2008, signed a Joint Venture Agreement with Macquarie and IFC to set up and manage an Infrastructure Private Equity Fund for investing in Indian Infrastructure projects and companies. The JV agreement is based on the earlier MOU signed on 16th April, 2008. The fund will be operationalised on receipt of requisite regulatory approvals.