State Bank of Bikaner and Jaipur Stock

The genesis of State Bank of Bikaner and Jaipur dates back to the year 1943-44, when the Bank of Jaipur Ltd. and the Bank of Bikaner Ltd. came into existence. In 1960, both banks were incorporated as subsidiaries of State Bank of India and named as State Bank of Bikaner and State Bank of Jaipur. On January 1, 1963, both banks were merged into one entity viz. State Bank of Bikaner and Jaipur. The constitution, capital, management and other matters pertaining to the Bank are governed by the provisions of SBI (Subsidiary Banks) Act, 1959. 75% of the shares of SBBJ are held by SBI and the remaining by institutions and general public. The Bank took over the business of the Govind Bank Pvt. Ltd, Mathura on 25th April, 1966. SBBJ went public in the year 1997-98 with an issue of 12.21 lakh shares of 100 each at a premium of 440/-. SBBJ is the only public sector bank with headquarter in Rajasthan. At the time of incorporation, the Bank had a business of 45 crore. Source: Crunchbase