DCB Bank picks up stake in two firms in GIFT City

DCB Bank said it has acquired stake in two companies in GIFT City IFSC for a total investment of Rs 10 crore. Another Rs 5 crore has been invested for 4.93 per cent stake in India International Clearing Corporation Ltd India ICC, the bank said in a release.

DCB Bank said it has acquired stake in two companies in GIFT City IFSC for a total investment of Rs 10 crore. The bank has invested Rs 5 crore, representing about 2.89 per cent stake, for acquiring equity in India International Exchange Ltd (India INX). Another Rs 5 crore has been invested for 4.93 per cent stake in India International Clearing Corporation Ltd (India ICC), the bank said in a release. India INX and India ICC are promoted by BSE. These are the leading exchange and clearing corporation in GIFT City IFSC at Gandhinagar, Gujarat.

India INX is India's first exchange in the International Finance Services Centre (IFSC). India ICC provides clearing and settlement and risk management services to India INX. Both companies are regulated by the IFSC Authority. The GIFT City International Financial Services Centre (IFSC) is India's gateway for inbound and outbound requirements related to international financial services.

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