Mumbai: 13 November 2025: State-run State Bank of India (SBI) has signed a non-binding term sheet with Care Ratings Limited to purchase 2,970,000 equity shares of CareEdge Global IFSC Limited (CGIL) (pending execution of a definitive agreement) for acquiring a stake of up to 9.90% in CGIL.

The public sector bank has made an investment of up to Rs 2.97 crore for acquiring an equity stake of up to 9.90% in the company. The transaction is expected to be completed within 6 months from the Non-Binding Term Sheet.

However, the regulatory approvals are required from the International Financial Services Centres Authority (IFSCA) and Reserve Bank of India (RBI). The CareEdge Global IFSC Ltd. was incorporated on April 29, 2024.

Shares of SBI are trading up by 0.016% at Rs 957.30 at BSE.

Join

See Full Page