SBM Bank India appoints consultant for 26% stake sale

Mumbai-based SBM Bank India has initiated a process to sell a 26% stake as part of its efforts to raise capital for business expansion. The bank has appointed a consultant to manage the transaction and is currently at the Expression of Interest (EoI) stage.The company plans to use the proceeds from the stake sale as growth capital. This follows a capital infusion of INR 75-Cr from its parent entity, SBM Bank (Mauritius), in June, with an additional INR 75-Cr scheduled to be infused later this month.