From 76% to 51%
State Bank of India announced that consequent upon the promulgation of the Insurance Laws (Amendment) Ordinance, 2014 and subsequently passed by both the houses of parliament, the Executive Committee of the Central Board (ECCB) has on 25 March 2015 decided to initiate the necessary action as per JV agreement for dilution of SBI's stake in SBI General Insurance from 76% to 51% with corresponding increase of stake of IAG from 26% to 49%, including appointment of a valuer to facilitate valuation and price discovery.Powered by Capital Market - Live News
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