The State Bank of India has invited bids to sell 500,000 equity shares or 1% stake in Clearing Corp of India Ltd by Apr 4, the bank said in a newspaper notice.
The bank has not made public the floor price for the proposed stake sale, but it will hold a bidding on April 4 for the same.
The notification said that bids must be placed for a minimum of 1,00,000 shares and subsequent multiples of 1,00,000 shares.
According to CCIL's annual report, SBI holds a 16.80% stake as of March 2022.
Shares of State Bank of India were 0.3% lower at ₹559.25 on NSE at 13:37 IST.
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)