State Bank of India has informed the Exchange about divestment in Jio Payments Bank Limited
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State Bank of India has fully exited Jio Payments Bank Limited by selling its entire 7.90 crore equity shares to Jio Financial Services Limited at ₹13.22 per share, for a total consideration of about ₹104.54 crore. The deal was completed on 18th June 2025 after receiving approval from the Reserve Bank of India. After the sale, SBI holds zero shares in Jio Payments Bank, while Jio Financial Services, which already owned 85.04% of the payments bank, now takes full control. Jio Payments Bank contributed only about ₹5.72 crore in income and ₹27.21 crore in net worth to SBI last year, representing a 14.96% share in both.
This is a clean exit from a non-core payments banking venture, freeing up around ₹104.54 crore for SBI to redeploy into its main banking operations. The financial impact on SBI is minimal given the small size of JPBL relative to the bank's overall business, and it helps SBI sharpen focus on its core banking activities.