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Sep 14, 2017 09:30 PM IST | Source: PTI

IDBI Bank sells 2.5% stake in Clearing Corp

CCIL facilitates clearing and settlement of transactions in money, government bonds, foreign exchange and derivative markets

Public sector IDBI Bank today 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.

tags #Economy

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