Investment Details
Target Entity: State Bank of India
- Market Capitalization: ₹8.83 trillion (as on October 28, 2026)
- Industry: Banking
- Country of Incorporation: India (incorporated on July 1, 1955)
Transaction Details:
- Acquisition Date: October 28, 2026
- Acquisition Amount: ₹1.72 billion
- Consideration Type: Cash consideration
- Investment Approach: Made in multiple tranches over a period of time through the company's ordinary investment function
Ownership Impact:
- Cumulative Holding: 0.02% of State Bank of India's share capital as on October 28, 2026
Regulatory and Compliance Aspects
Related Party Status: The investment does not constitute a related party transaction. ICICI Lombard's promoter and promoter group entities may have investment and other business-related transactions/arrangements with the target entity at arm's length.
Governmental Approvals: No governmental or regulatory approvals were required for this acquisition.
Target Entity Background
State Bank of India is an Indian Public Sector Bank headquartered in Mumbai. It is the largest banking and financial services organization in India with:
- Asset Base: Over ₹61 trillion
- Customer Base: Over 50 crore customers
- Network: 23,321 branches, 63,580 ATMs/ADWMs, and 82,900 BC outlets
Business Diversification: The bank has diversified through various subsidiaries including SBI General Insurance, SBI Life Insurance, SBI Mutual Fund, and SBI Card.
Financial Performance (Turnover):
- 2025-26: ₹7,096.17 billion
- 2024-25: ₹6,633.43 billion
- 2023-24: ₹5,945.75 billion
Additional Information
The disclosure was signed by Vikas Mehra, Company Secretary of ICICI Lombard General Insurance Company Limited, and submitted to both BSE Limited and National Stock Exchange of India Limited.
#ICICI Lombard #SBI #Regulation30 #SEBIDisclosure #Investment #Neutral