Central Bank of India has appointed SBI Caps to identify a buyer for its stake in Infrastructure Leasing & Financial Services (IL&FS). The bank is one of the promoters of IL&FS and holds 8.34 per cent stake in it.
The top shareholders in IL&FS are LIC (25.34 per cent), Orix Corporation of Japan (23.04 per cent), Abu Dhabi Investment Authority (11.09 per cent) and IL&FS Employees' Welfare Trust (13.65 per cent). Other shareholders include HDFC (9.81 per cent), SBI (6.98 per cent) and UTI AMC (0.80 per cent).
Last month, Central Bank announced that they would approach the government for additional capital of Rs 1,500 crore this year and if there was any shortfall, it could look for some other sources to raise funds.
Central Bank of India has been serving more than 3,50,00,000 account holders through its 4,400 branches, 6 extension counters, 29 Satellite offices, 1,970 ATMs and 2,413 ultra small branches (USBs).