The issue is subject to Government of India (GOI) approval wherever required.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2023, the Government of India held 57.49% stake in the bank.

The bank reported 83.18% surge in standalone net profit to Rs 16,695 crore on a 29.41% increase in total income to Rs 1,06,912.46 crore in Q4 FY23 over Q4 FY22.

The scrip declined 1.56% to currently trade at Rs 579.30 on the BSE.

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