State Bank of India (SBI) has signed a non-binding term sheet to acquire a stake in CareEdge Global IFSC Limited (CGIL). SBI plans to purchase 29,70,000 equity shares, representing up to 9.90% of CGIL. The deal is pending the execution of a definitive agreement. CareEdge Global IFSC Limited, incorporated on April 29, 2024, is a full-service Credit Rating Agency.
SBI Invests in Credit Rating Agency
State Bank of India (SBI) is set to acquire a minority stake in CareEdge Global IFSC Limited (CGIL), a credit rating agency. The proposed acquisition involves purchasing 29,70,000 equity shares of CGIL.
Terms of the Acquisition
The acquisition of up to 9.90% stake in CGIL is contingent upon the execution of a definitive agreement. The investment is valued at up to ₹2.97 crore. Regulatory approvals are required from the International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India. The transaction is expected to be completed within 6 months from November 12, 2025.
CareEdge Global IFSC Limited Details
CareEdge Global IFSC Limited (CareEdge Global) is a full-service Credit Rating Agency (CRA). CGIL was incorporated on April 29, 2024. As of financial year FY25, the turnover of CareEdge Global IFSC Limited was ₹195.24 Lakhs, with a net worth of ₹2,606.63 Lakhs.
Source: BSE
