Merger SBI Subsidiaries : Likely ratio for Listed Subsidiaries

All subsidiaries of State Bank are going to be merged with SBI : let us speculate about the likely ratio for listed subsidiaries, e.g., SBBJ, SBT & SBM. First, silent financial position of SBI individually is :

Records were sourced from Moneycontrol.com but for current year (which is based on Advertisement in newspaper ).There were massive infusion of capital by the Government of India in two doses - details as per attachment :

But for this financial position as on 31/03/2016 would have been worse. Public shareholders were saved from the inflated premiums charged on two private placements.

Of the three listed subsidiaries, State Bank of Bikaner & Jaipur appears to be robust with consistent results over the previous five years,

Records of book value & EPS are consistently good. As such, it is likely that public shareholders may get 2.38 shares of SBI (as minimum), 4.60 (higher side) & an average of 3.11 based on five years comparative performance with the holding Company. Its boards being in control of  SBI , public shareholders may cross their fingers & await the Ratio. Hopefully RBI may ensure fair dealings.

With adverse results in last 2 years & infusion of capital in 2 stages, SBT 's position had been affected.

SBM is more closely held than SBBJ & SBT.

S B Hyderabad & Patiala are fully owned by SBI.