SBI to divest small stake in SBI Life | Dinesh Kumar Khara speaks to ET Now
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SBI has approved divesting small stake in SBI Life. SBI will divest 21 mn equity shares or 2.1% stake in SBI Life. The divestment is being done in order to achieve minimum public shareholding of 25 per cent in SBI Life. Let me clarify that this has not been done just with an intention of shoring up capital with the bank. It is more from the point of view of meeting the MPS requirement in SBINSE 1.38 % Life where we are under commitment to offload another 2.1% by the end of September. So that is why we had started the process. So that is something which has a purpose. The purpose is to meet the minimum public shareholding (MPS) requirements and not to shore up the capital, says SBI MD Dinesh Kumar Khara Listen in! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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