Question

Which bank has committed to an investment of ₹49.99 crore in Canpac Trends Private Limited, based in Ahmedabad?

A State Bank of India Correct Answer Incorrect Answer
B Punjab National Bank Correct Answer Incorrect Answer
C UCO Bank Correct Answer Incorrect Answer
D Indian Bank Correct Answer Incorrect Answer
E Union Bank Correct Answer Incorrect Answer

Solution

State Bank of India has executed transaction documents to purchase 3,70,644 shares (6.35 percent) of Ahmedabad-based Canpac Trends Private Limited at 1,349 per share, aggregating ₹49.99 crore. The investment in Canpac Trends, which is in the paper packaging industry, is being made with the objective of capital appreciation.

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