Care Edge Ratings on Monday said it has decided to sell a 19.8 per cent stake in its wholly-owned subsidiary CareEdge Global IFSC to State Bank of India and NSE IFSC. The company has executed share purchase agreements and a shareholders' agreement with State Bank of India (SBI) and NSE IFSC (NSEIX) to sell a 9.9 per cent equity stake each in CareEdge Global IFSC Ltd (CGIL), Care Edge Ratings said in a regulatory filing. After the share transfer is completed, the company will continue to hold an 80.2 per cent equity stake in CGIL, it said. The deal is expected to be concluded within two months, it added.
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