Maithan Alloys acquires minor stake in State Bank of India

Maithan Alloys Limited acquired 683,000 equity shares in State Bank of India, representing a 0.007% shareholding, on October 14, 2025. The total cash acquisition amounted to INR 60.05 Crore. Maithan Alloys stated this investment aims to reap long-term/short-term benefits and does not intend to acquire control of SBI's management.

The acquisition was reported under Regulation 30 of SEBI (LODR), 2015, after crossing the prescribed threshold. State Bank of India, a public sector bank incorporated on July 1, 1955, reported a turnover of INR 462,489 Crore, PAT of INR 70,901 Crore, and a net worth of INR 389,071 Crore as of March 31, 2025. SBI operates in India and 29 foreign countries with 244 branches.