 "IDBI Bank sells 2.5% stake in Clearing Corporation of India")
Public sector IDBI Bank on Thursday said it has sold 12.5 lakh equity shares in Clearing Corporation of India (CCIL) for an undisclosed amount.
"IDBI Bank has sold 12,50,000 equity shares constituting 2.5 per cent of the paid up capital of Clearing Corporation of India Ltd on September 13, 2017," the bank said in a regulatory filing.
CCIL facilitates clearing and settlement of transactions in money, government bonds, foreign exchange and derivative markets.
State Bank of India, IDBI Bank, ICICI Bank, Life Insurance Corporation of India (LIC), Bank of Baroda and HDFC Bank Ltd are the six promoters of the company.
The collective shareholding of the bank stands at 67.50 per cent, 14 per cent is held by financial institutions and the rest of 18.50 per cent is owned by primary dealers and other corporate bodies.
IDBI Bank stock closed 1.53 per cent higher at Rs 56.55 on BSE today.
"IDBI Bank has sold 12,50,000 equity shares constituting 2.5 per cent of the paid up capital of Clearing Corporation of India Ltd on September 13, 2017," the bank said in a regulatory filing.
CCIL facilitates clearing and settlement of transactions in money, government bonds, foreign exchange and derivative markets.
Also Read
The collective shareholding of the bank stands at 67.50 per cent, 14 per cent is held by financial institutions and the rest of 18.50 per cent is owned by primary dealers and other corporate bodies.
IDBI Bank stock closed 1.53 per cent higher at Rs 56.55 on BSE today.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%