SBI Inks Pact to Buy 9.9% Stake in CareEdge Global from Care Ratings

State Bank of India (SBI) has announced its plan to acquire a minority stake in CareEdge Global IFSC Limited (CGIL), from Care Ratings marking another strategic step in expanding its presence in the GIFT City financial ecosystem. 

The move was communicated through an official exchange filing, signalling SBI’s intent to strengthen its engagement in international financial services.

Key Development

SBI has agreed to purchase 29,70,000 equity shares, amounting to up to 9.90% of CGIL, equivalent to ₹2,97,00,000, according to the disclosure made under Regulation 30 of SEBI’s LODR Regulations. The bank has signed a non-binding term sheet with Care Ratings Limited, CGIL’s parent, dated 12 November 2025. The acquisition will proceed once definitive agreements are executed.

CGIL was incorporated on 29 April 2024 as a full-service credit rating agency under IFSCA. Although the entity is less than a year old, it has already reported FY25 turnover of ₹195.24 lakh and a net worth of ₹2,606.63 lakh, according to financial statements shared in the filing. SBI has clarified that the transaction does not fall under related-party arrangements and is being conducted strictly at arm’s length

Statements & Regulatory Context

The bank noted that the disclosure aligns with the SEBI Master Circular issued on 11 November 2024, which mandates transparent reporting of corporate actions. CGIL operates within the GIFT City framework, where financial institutions are increasingly investing to capture opportunities within India’s international financial services landscape.

SBI Share Price Performance 

As of November 13, 2025, at 12:40 PM, SBI share price is trading at ₹956.90 per share, reflecting a decline of 0.02% from the previous day's closing price.

Read More: SBI, PNB, BOI: Is India Moving Towards Just Four Public Sector Banks?

Conclusion

The planned acquisition underscores SBI’s intent to deepen its participation in GIFT City’s rapidly growing financial environment. Once definitive agreements are signed, SBI will officially become a minority stakeholder in CareEdge Global IFSC Limited.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.