The State Bank of India (SBI) has recently finalized the necessary paperwork to acquire a 6.125% ownership stake in CCIL IFSC Limited for a total amount of ₹6.125 crore. CCIL IFSC will be established with an authorized capital of ₹200 crore and a paid-up capital of ₹100 crore. This new entity will be responsible for managing the foreign currency settlement system and serving as a clearinghouse and system operator within the International Financial Services Centre (IFSC) located in the Gujarat International Finance Tec City (GIFT City).
The expected timeline for completing the transaction, which involves acquiring 61.25 lakh equity shares valued at ₹10 each, is up to six months from the date of executing the transaction documents.
The Clearing Corporation of India Ltd (CCIL) is actively supporting CCIL IFSC, and it will hold a majority stake of 57.125% in the proposed company.
Within the SBI group, the State Bank of India holds a 16.80% stake in CCIL, while SBI-DFHI holds a 4.50% stake, resulting in a combined group ownership of 21.30% in CCIL.
