SBI dilutes 4.4 percent stake in CCIL | CORPORATE ETHOS

SBI dilutes 4.4 percent stake in CCIL

By: | March 16, 2018
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Country’s largest public sector lender State Bank of India (SBI has divested 4.40% stake in Clearing Corporation of India (CCIL). This is constituted of 22 lakh equity shares of Clearing Corporation of India, State Bank of India has informed the stock exchanges on Friday. Post divestment, SBI ‘s holding in Clearing Corporation of India has come down to 16.80 percent, the public sector lender said in a press release. Besides, SBI’s subsidiary SBI DFHI is also holding 4.5 percent stake in CCIL.

Earlier the executive committee of central board (ECCB) had given green signal for CCIL stake divestment.

This is in line with SBI’s policy of selling noncore assets in a bid to improve capital adequacy ratio. SBI has stakes in stock exchanges, depositories, clearing and warehousing corporations, and credit rating agencies. SBI held 5.19% in the National Stock Exchange Ltd and 3.52% in Metropolitan Stock Exchange of India Ltd at the end of June. In July 2016, SBI sold a 5% shareholding in NSE for Rs 911 crore. SBI is also a shareholder in Smera Ratings Ltd, which is promoted by the Small Industries Development Bank of India.