Other Private Equity/Strategic Investments
SBI to acquire 10% stake in India International Clearing Corp for Rs.34-Cr
Mumbai-based, publicly listed State Bank of India (SBI) is to acquire a 9.95% stake in India International Clearing Corporation (IICC) for INR 34.03 crore. The deal is to be completed by March 2022. IICC is the first international clearing corporation set up at GIFT-IFSC that acts as a central counterparty providing clearing and settlement and risk management services. It clears and settles index and single stock derivatives, currency derivatives and debt securities. For FY21, IICC had total revenues of INR 1.8 crore.
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