State Bank Of India

The country’s four major lenders -- State Bank of India, Bank of Baroda, IDBI Bank and ICICI – are planning to acquire 53.63% equity stake in Chennai-based Consolidated Construction Consortium (CCCL). Of total, SBI will have 26.53% stake, Bank of Baroda 11.61%, IDBI Bank 4.83% and ICICI Bank will have 10.66% shareholding in CCCL.

The lenders are exercising their option to convert the amount of Working Capital Term Loan (WCTL) and Funded Interest Term Loan (FITL) into equity shares for an amount not exceeding Rs 82,50,13,096 into fully paid up equity shares of the face value Rs 2 each, subject to requisite CDR/ statutory approvals, towards payment of part of their dues at a price of Rs 3.86 a share.