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South Indian Bank acquires 6.67% stake in IBBIC

Capital Market 

South Indian Bank has become the initial subscriber to the Memorandum and Articles of Association of IBBIC on 20 November 2020.

Post investment, South Indian Bank will hold 6.67% shareholding in IBBIC through acquisition of 50,000 equity shares of face value Rs. 10 each.

IBBIC is proposed to provide a platform for exploring, building and implementing DLT solutions for the financial services sector

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, November 21 2020. 11:32 IST