Care Ratings will retain an 80.2% holding. (Image Source: Freepik) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Shares of Care Ratings Ltd. surged over 8% on Thursday after State Bank of India and NSE IFSC signed a non-binding term sheet to acquire 9.9% stakes each in CareEdge Global IFSC Limited. Following the deal, Care Ratings will retain an 80.2% holding, and CareEdge Global will no longer remain a wholly owned subsidiary.

In an exchange filing, SBI said, “Pursuant to Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we inform that State Bank of India has signed Non-Binding Term Sheet with Care Ratings Limited to purchase 29,70,000 equity shares of CareEdge Global IFSC Limited (CGIL) (pending

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