17th Jul 2007 07:00
State Bank Of India16 July 2007 Letter to RNSLetter dated 9 July 2007 Subject: Acquisition of shares held by Reserve Bank of India in State Bank of India by the Central Government This is with reference to your letter No. MSE/DS/GOI/001/07 dated 25th June,2007 on the above subject. 2. Vide our letter dated June 22, 2007, Securities and Exchange Board ofIndia (SEBI), Mumbai was informed of the proposed acquisition of shareholding ofRBI in SBI by the Central Government. 3. SEBI, vide its letter No.CFD/DCR/TO/HB/97296/07 dated June 28, 2007,advised that the proposed transaction between Government which is the factualowner of the Government companies and RBI which is a Statutory Corporation wouldbe exempted under the provisions of SEBI (Substantial Acquisition of Shares andTakeovers) Regulations, 1997 read along with the provisions of the SecuritiesContracts (Regulation) Act, 1956. 4. It may, however, be noted that the acquisition by the Central Governmentof RBI shareholding in SBI aggregating 31,43,39,200 equity shares was completedon June 29, 2007 against cash payment of Rs. 35,531.33 crore. Letter from State Bank of India This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
State Bk.in.gdr