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SBI To Go Ahead With Rs 500 Crore SME-Focused PE Fund; It Will Hold 20%
Posted on June 14, 2008
State Bank of India (SBI) is going ahead with its private equity fund joint venture plans even after India s Central bank, Reserve Bank of India, expressed reservations about SBI entering the business on a partnership model. SBI Chairman O P Bhat has said it s setting up a Rs 500-crore private equity fund, in which SBI will have a 20 per cent equity, with a domestic investor holding the remaining equity. Even though he has not revealed the partner s name, it s likely to be Sage Capital Fund Management in which the bank had picked up close to 20 per cent equity last year. Sage Capital i...
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