Central Bank hires SBI caps to sell stake in IL&FS

The bank holds 8.34% stake and refused to put a valuation as yet

State-run Central Bank of India had appointed SBI Caps to identify a buyer for its stake in Infrastructure Leasing & Financial Services (IL&FS), a senior bank official told the Press Trust of India. He, however, refused to put a valuation for the 8.34 per cent stake in the unlisted firm.

The bank is one of the promoters of IL&FS and holds 8.34 per cent stake in it, according to the company's website.

The top shareholders in IL&FS are LIC (25.34 per cent), Orix Corporation of Japan (23.04 per cent), Abu Dhabi Investment Authority (11.09 per cent) and IL&FS Employees' Welfare Trust (13.65 per cent). Other shareholders include HDFC (9.81 per cent), SBI (6.98 per cent) and UTI AMC (0.80 per cent).

Last month, Central Bank CMD Rajeev Rishi had said they would approach the government for additional capital of Rs 1,500 crore this year and if there was any shortfall, it could look for some other sources to raise funds.