SBI Fund Management Unlisted Shares
RBI Approves SBI Mutual Fund to Acquire Up to 9.99% Stake in Karur Vysya Bank
Times Now News
2 min read
RBI Approves SBI MF to Acquire 9.99% Stake in Karur Vysya Bank.
Expert Analysis:
RBI Approval: RBI approved SBI Mutual Fund to acquire up to 9.99% of Karur Vysya Bank's paid-up share capital or voting rights.
Ownership Structure: SBI holds a 63% majority stake in SBI Funds Management Pvt Ltd (SBIFMPL), while AMUNDI Asset Management owns the remaining 37%.
Approval Conditions: SBI Mutual Fund must secure the majority shareholding within one year, keep ownership below 9.99%, and seek new RBI approval if it drops below 5%. Failure to comply may lead to revocation.
The RBI has approved SBI Mutual Fund's acquisition of up to 9.99% of Karur Vysya Bank, with strict regulatory conditions and timelines.
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