State Bank Of India

State Bank of India (SBI) has acquired a minority stake in JSW Cement with an investment of Rs 100 crore via compulsorily convertible preference shares (CCPS). This capital infusion will support JSW Cement's capacity expansion from the current 14 million tonnes per annum (MTPA) to 25 MTPA.

CCPS are instruments that compulsorily convert into equity shares of the issuing company on mutually pre-decided conditions at the time of issuance. The conversion of such CCPS into common equity of the company will be linked to the company's future business performance and valuation determined at the time of the proposed initial public offering.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.