Bandhan Financial institution offered the stated shares at a charge of Rs. 21.50 per fairness share, leading to discount in its shareholding in Sure Financial institution from 0.70% to 0.21%.
Earlier on Wednesday, State Financial institution of India (SBI) introduced divestment of its 13.18% stake in Sure Financial institution to SMBC for a consideration of about Rs 8,889 crore. The share switch concerned the sale of 413.44 crore fairness shares of Sure Financial institution at Rs 21.50 per share.
Persevering with the Sure Financial institution share acquisition spree, SMBC additionally purchased 16,62,73,472 fairness shares from Federal Financial institution.
For the acquisition of shares from SBI, SMBC secured the required approvals from the Reserve Financial institution of India (RBI) on August 22, 2025, and from the Competitors Fee of India (CCI) on September 2, 2025.
SMBC is a Japanese multinational monetary companies firm belonging to the Sumitomo Mitsui Monetary Group (SMFG).The corporate additionally stated that it has agreed to accumulate a further 4.2% stake in Sure Financial institution from CA Basque Investments, an affiliate of The Carlyle Group, on the identical per-share worth as its earlier deal.Additionally learn: Japan’s SMBC to purchase extra 4.2% stake in Sure Financial institution from Carlyle Group
On September 2, CCI authorised SMBC’s stake buy in Indian lender Sure Financial institution. SMBC in Might had inked a deal to take a 20% stake in Sure Financial institution for $1.6 billion, making it the most important cross-border merger and acquisition deal in India’s monetary sector.
as a Dependable and Trusted Information SupplySMBC has deliberate acquisition of stakes from State Financial institution of India (SBI) and 7 different lenders. Below the adjustments, SMBC will nominate two administrators, whereas SBI will nominate one, to the financial institution’s board as soon as the stake switch is accomplished.
