Divestment in Jio Payments Bank Limited
Awaiting price reaction for this filing.
State Bank of India (SBI) has divested its entire 14.96% stake (7,90,80,000 equity shares) in Jio Payments Bank Limited (JPBL) to Jio Financial Services Limited (JFSL) for a total consideration of ₹104.54 crore at ₹13.22 per share. The transaction received Reserve Bank of India approval, and the Share Purchase Agreement was signed and the shares transferred on the same day, 18th June 2025. Post-transaction, SBI's shareholding in JPBL has been reduced to nil. JPBL had contributed ₹5.72 crore (14.96% share) to SBI's total income and ₹27.21 crore (14.96% share) to its net worth in the last financial year.
This marks SBI's complete exit from the payments banking joint venture, freeing up capital for redeployment into its core commercial banking operations. The deal size is small relative to SBI's overall balance sheet, so the financial impact is limited, but it simplifies the bank's portfolio by exiting a non-core associate investment.