CS Setty, Chairman, SBI
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NAGARA GOPAL
State Bank of India is planning to come up with Initial Public Offerings (IPO) for two of its subsidiaries, SBI General and Asset Management Company.
“We are seriously looking at Initial Public Offerings (IPOs) of SBI General Insurance and Asset Management Company,’‘ SBI Chairman CS Setty told newspersons in a media interaction here on Saturday after formally inaugurating 30 specialised health insurance branches of SBI General in Andhra Pradesh and Telangana.
When asked on timelines of the proposed IPOs, the SBI chief said the details were being worked out. “Today, SBI’s non-banking subsidiaries are providing a range of world-class financial services including life, non-life insurance, Cards and Mutual Funds,’‘ he said.
The journey of SBI’s subsidiaries had been one of ‘great’ value creation, he said adding, “we started with investing Rs 6,500 crore and Rs 4 lakh crore is the value we have created.’‘ The arms of SBI including SBI General and SBIMF had created `worldclass benchmarks’‘ with customer-centricity, Settly added.
Tariff impact
When asked on the likely impact on tariffs imposed by the US administration on imports from India, SBI Chairman said the direct impact of the tariff would be limited as our export basket was diversified to different geographies.
However, few industries which had more exports to the US including, chemicals, textiles, Gems and jewellery and marine products could face some impact, he said adding that some relief for impacted industries could be worked out in consultation with the government after assessing the situation in due course.
Published on August 9, 2025
