Team Blitz India
NEW DELHI: The State Bank of India (SBI) has acquired a 6.125 per cent stake in CCIL IFSC Limited for Rs 6.125 crore.
CCIL IFSC, which will be incorporated with an authorised and paid-up capital of Rs 200 crore and Rs 100 crore, respectively, will operate the foreign currency settlement system and act as a clearing house and system operator at the International Financial Services Centre (IFSC) within the Gujarat International Finance Tec City (GIFT City).
The indicative period for completion of the transaction (acquisition of 61.25 lakh equity shares at Rs10 each) is up to six months from the date of execution of transaction documents.
The Clearing Corporation of India Ltd (CCIL) is promoting CCIL IFFSC. CCIL will have a 57.125 per cent stake in the proposed company.
