SBI Explores Public Listing for Key Subsidiaries
SBI Chairman C S Setty announces potential listings for SBI General Insurance and SBI Mutual Fund, with no fixed timeline yet. The statement was made at the launch of SBI General Insurance’s Specialised Health branches in Telangana and Andhra Pradesh, highlighting these firms as strong IPO contenders.
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The State Bank of India's Chairman, C S Setty, revealed plans to explore public listings for its subsidiaries, SBI General Insurance and SBI Mutual Fund, during an event in Telangana and Andhra Pradesh. Nonetheless, the timeline for these potential initial public offerings (IPOs) remains undecided.
Setty emphasized the significance of these companies within SBI's portfolio, pointing to their strength and readiness for the public market. While speaking to reporters, he described the subsidiaries as 'strong contenders' for upcoming IPOs.
The news comes as Setty inaugurated Specialised Health Insurance branches of SBI General Insurance, further embedding the bank's influence in the health insurance sector nationwide. This strategic move signals SBI's intent to capitalize on its subsidiaries' market strength.
(With inputs from agencies.)
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