SBI Acquisition of 20% stake in SBI Pension Funds

Acquisition of Entire Stake held by SBI Capital Markets Ltd. in SBI Pension Funds Pvt. Ltd. by State Bank of India

SBI Pension Funds Private Limited (SBIPFPL) SBI has proposed for acquisition of 20% stake in SBI Pension Funds Pvt Ltd currently held by SBICAPS (wholly owned subsidiary of SBI), subject to all regulatory clearances.

Details of SBIPFPL as on 31.05.2023
AUM: Rs 359041.00Crores
PAT: Rs 5.01Crores

Points Acquisition of Entire Stake

  1. Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”

Ans. Yes, SBI, holding company of SBIPFPL currently holds 60% stake in the company. Proposed transaction of acquisition is being done at Arm’s Length basis which is based on the valuation report of M/s Deloitte Touche Tohmstsu India

  • Pension Fund [National Pension System (NPS)]
  • Approval from RBI and PFRDA will be obtained.
  • Nature of consideration will be cash
  • Estimated cost of capital for the said acquisition will be Rs 229.52Cr.

Shareholding Pattern

  • Current Shareholding by SBI:
    a. No of Shares: 1,80,00,000
    b. Shareholding (%): 60%
  • Proposed Shareholding after acquisition
    of 20% from SBICAPS:
    a. No of Shares: 2,40,00,000
    b. Shareholding (%): 80%

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