Importantly, RBI has clarified that following this acquisition, SMBC won’t be labeled as a promoter of Sure Financial institution.
The financial institution disclosed the event in a regulatory submitting, noting that the approval is legitimate for one 12 months from August 22, 2025. The proposed acquisition stems from SMBC’s plan to lift its holding in Sure Financial institution to twenty% through a secondary stake buy.
This features a 13.19% stake from State Bank of India and a further 6.81% stake from seven different present shareholders of Sure Financial institution, specifically Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.
“We consult with our earlier inventory alternate disclosure dated Could 09, 2025, informing the inventory exchanges of the proposed acquisition by Sumitomo Mitsui Banking Company (“SMBC”) of 20.00% shareholding within the Financial institution by way of a secondary stake buy of 13.19% stake from the State Financial institution of India and an combination of 6.81% stake from 7 different shareholders of the Financial institution, i.e., Axis Financial institution Restricted, Bandhan Financial institution Restricted, Federal Financial institution Restricted, HDFC Financial institution Restricted, ICICI Financial institution Restricted, IDFC First Financial institution Restricted and Kotak Mahindra Financial institution Restricted (“Proposed Transaction”),” stated the financial institution in its alternate submitting.
Any subsequent transactions can even stay topic to regulatory circumstances and RBI’s determination.The financial institution additional famous that consummation of the transaction is contingent upon receiving clearance from the Competitors Fee of India (CCI) and fulfilling customary circumstances precedent specified within the agreements introduced earlier in Could 2025.On Friday, the shares of Sure Financial institution closed 0.8% decrease at Rs 19.28 on the BSE.Additionally learn: Nifty ready for Monday gap-up opening after Jackson Hole speech. What traders should know
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