State Bank of India on Tuesday said it has acquired over 6.82 per cent stake in Zero Mass Pvt Ltd in a share transfer purchase agreement.
Zero Mass Pvt Ltd (formerly Zero Microfinance and Savings Support) is a business correspondent and business facilitator.
The deal is to be completed by March 31, 2020.
SBI will get 6,825 equity shares, which is 6.825 per cent of the target company (Zero Mass), which had a turnover of Rs 97 crore in 2018-19.
SBI said it is a part of the negotiated deal consideration where SBI sold its entire stake in A Little World Pvt Ltd to the target company Zero Mass.
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