Maithan Alloys acquires stake in State Bank of India

Maithan Alloys Limited has acquired equity shares in State Bank of India (SBI), a public sector bank, via a stock exchange transaction. The acquisition occurred on October 13, 2025, with Maithan Alloys becoming aware of the details the following day. This investment, costing INR 98.84 Crore, represents a 0.012% stake in SBI, totaling 1,116,058 shares.

The company stated that the shares were acquired as an investment for long-term and short-term benefits, with no intention of gaining direct or indirect control over SBI's management. State Bank of India, incorporated on July 1, 1955, reported a turnover of INR 462489 Crore and a net worth of INR 389071 Crore as of March 31, 2025.

This transaction triggered disclosure requirements under SEBI (LODR) Regulations, 2015, highlighting Maithan Alloys' strategic investment in the financial sector. The acquisition was executed as a cash consideration.