SBI Acquires over 6pc in Biz Correspondent Zero Mass
State Bank of India on Tuesday said it has acquired over 6.82 per cent stake in Zero Mass Pvt Ltd in a share transfer purchase agreement.
New Delhi, Mar 17 (PTI) State Bank of India on Tuesday said it has acquired over 6.82 per cent stake in Zero Mass Pvt Ltd in a share transfer purchase agreement.
Zero Mass Pvt Ltd (formerly Zero Microfinance and Savings Support) is a business correspondent and business facilitator.
The deal is to be completed by March 31, 2020.
SBI will get 6,825 equity shares, which is 6.825 per cent of the target company (Zero Mass), which had a turnover of Rs 97 crore in 2018-19.
SBI said it is a part of the negotiated deal consideration where SBI sold its entire stake in A Little World Pvt Ltd to the target company Zero Mass.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)