State Bank of India has informed BSE that the Finance Minister of India, in a press briefing earlier on February 15, 2017 has announced that the Cabinet has approved the proposal for merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala ('SBP') and State Bank of Hyderabad ('SBH') with State Bank of India.
Trading Members of the Exchange are hereby informed that, pursuant to the acquisition of State Bank of Bikaner and Jaipur by State Bank of India as approved by the Government of India, State Bank of Bikaner and Jaipur has fixed a Record Date to determine the entitlement of shareholders of the Bank for the equity shares of State Bank of India.
Trading Members are advised not to deal in the equity shares of State Bank of Bikaner and Jaipur with effect from the under mentioned date.
COMPANY NAME CODE
State Bank of Bikaner and Jaipur
(501061; 601061)
RECORD DATE
17/03/2017
PURPOSE
The Scheme of Amalgamation: -
Amalgamation of State Bank of Bikaner and Jaipur with State Bank of India.
Upon the Scheme becoming effective, State Bank of India shall issue and allot shares to all the shareholders of State Bank of Bikaner and Jaipur. in the following share exchange ratio:
28 equity shares of Re. 1/- each of State Bank of India for every 10 equity shares of Rs.10/- each held in State Bank of Bikaner and Jaipur.
NO DEALINGS FROM
16/03/2017 DR- 239/2016-2017
Trading Members of the Exchange are requested to take note of the same.
(As Per BSE Notice Dated on 07.03.2017) | Powered by Capital Market - Live News |
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