SBI is going to buy the entire stake of SBI Capital Market
Public Relations Webdesk | SBI Capital Markets holds around 20 per cent stake in SBI Pension Funds. And today the country’s largest public sector bank SBI (State Bank of India) is going to buy the entire stake of SBI Capital Market.
On Tuesday itself, SBI has given information about increasing its stake in the exchange filing. State Bank of India currently holds 60 per cent stake in SBI Pension Funds. In addition, the bank holds 20 per cent stake each in SBICAPS and SBI Funds Management.
The executive committee of the central board of SBI has approved
If media reports are to be believed, according to the information given by SBI in its exchange filing, the Executive Committee of the Central Board of the bank has approved this proposal of SBI.
However, SBI is yet to get approval from the regulator to increase this stake.
What is SBI Pension Fund?
Let us tell you, SBI Pension Fund works as a pension fund manager. This fund works under the National Pension System.
This fund manager does the work of managing the pension fund. Talking about the financial year 2023, SBI Pension Fund had earned a net profit of Rs 53.51 crore. In the year 2023, as on March 31, the AUM (Assets Under Management) of SBI Pension Fund was 3,39,006 crores.
Everyone’s eye will be on SBI shares, shares on increase of Rs 5
There will be a stir in the market regarding the shares of SBI today. Till the time of writing the news, SBI shares are trading at Rs 571.30, up by Rs 5.30 on the NSE in the trading day today, Wednesday 28 June. Talking about the last trading day itself, the shares of the bank were up by 1.59 percent. SBI shares had closed at Rs 565.95.
