State Bank of India (SBI) is eyeing a significant stake in Tata Motors Finance, the vehicle financing arm of Tata Motors, a top bank official said.
"We are looking at the deal--of investing in it (Tata Motors Finance)," SBI Chairman O P Bhatt told reporters on the sidelines of a conference here today.
The public sector lender would pick-up a significant stake but not a majority in the Tata group company, he said.
"Our investment committee would like SBI to partner in the deal and invest some amount. Before that, however, we need RBI clearance," Bhatt said.
The deal would give SBI a huge synergy in terms of the commercial business of buses and trucks, he said, adding "We will pick up a significant stake but not a majority stake."