New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which bank has acquired a minority stake in JSW Cement

    Limited at an investment of ₹100 crore?
    A SBI Correct Answer Incorrect Answer
    B Canara Bank Correct Answer Incorrect Answer
    C Bank of Baroda Correct Answer Incorrect Answer
    D ICICI Bank Correct Answer Incorrect Answer
    E HDFC Bank Correct Answer Incorrect Answer

    Solution

    The State Bank of India (SBI), India’s largest public sector bank, has acquired a minority stake in JSW Cement Ltd by investing Rs 100 crore via compulsorily convertible preference shares (CCPS). The conversion of such CCPS into common equity of the company will be linked to JSW Cement’s future business performance and valuation determined at the time of the proposed initial public offering (IPO) in the next year.

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