SBI to sell 4% stake in SBI General Insurance, post regulatory approvals

Mumbai,   Lending major State Bank of India (SBI) will divest four per cent stake in SBI General Insurance company for Rs 481.73 crore post regulatory approvals.

According to a BSE filing, the bank’s Executive Committee of Central Board (ECCB) on Wednesday approved the divestment of “86,20,000 equity shares” to “Axis New Opportunities AIF-l (Axis AMC Ltd.) and Pl Opportunities Fund-I (Premji)”.

The filing added that the transaction is subject to regulatory approvals.