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.