State Bank of India announced its merger with five associates banks and the Bhartiya Mahila Bank on Thursday.
The only subsidiary bank to react negatively to swap ratio was State Bank Mysore. The swap ratio values State Bank Mysore at a discount of 13 percent to Thursday's closing price.
SBI announced that shareholders of State Bank Mysore will get 22 shares of SBI for every 10 shares held. The State Bank Mysore stock corrected as much as 12 percent on Friday, its biggest single-day decline since listing.
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