Shares of State Bank of India rose 0.37% to Rs 808.95 on the BSE.
The project involves the supply, implementation, and maintenance of a software defined wide area network (SD-WAN) and associated accessories across four data centres (DCs) and 7,000 branches of the bank.
The contract is for duration of 7 years, offering 24x7x365 support with a committed service level agreement (SLA).
The company stated that the promoter, promoter group, or group companies have no interest in the entity awarding the contract.
Furthermore, the order does not fall under related party transactions, and therefore, the question of being conducted at arm's length is not applicable.
Dynacons Systems & Solutions (DSSL) is an IT infrastructure company providing systems integration, networking solutions, facility management services, security solutions, and software services.
State Bank of India is a Fortune 500 company. It is an Indian Multinational, Public Sector banking and financial services statutory body headquartered in Mumbai. It is the largest and oldest bank in India with over 200 years of history. As of 31 March 2025, the Government of India held a 57.43% stake in the bank.