HSBC, a leading global bank and financial services major, has through its branch in Gift City executed transaction documents to acquire 6.125 per cent equity stake in CCIL IFSC Limited (CCIL IFSC). The investment value for this transaction stood at ₹6.125 crore.

Clearing Corporation of India Ltd (CCIL) is promoter of CCIL IFSC Limited and will hold 57.125 per cent stake in this subsidiary. 

CCIL IFSC is being incorporated with an authorised and paid-up capital of ₹200 crore and ₹100 crore, respectively. 

CCIL IFSC will be responsible to build and operate the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec (Gift) City, which is country’s sole international financial services centre (IFSC). This entity will act as a clearing house and system operator at the Gift City.

The indicative period for completion of the transaction (acquisition of 61.25 lakh equity shares at ₹10 each) is up to six months from the date of execution of transaction documents.

Developing the ecosystem

The FCSS is expected to help develop the Gift City ecosystem further by enabling and promoting a greater number of use cases within the IFSC.

This investment further underlines HSBC’s strategic commitment towards supporting market infrastructure development in India as it holds similar minority shareholding in institutions like National Payments Corporation of India (NPCI) and Clearing Corporation of India Ltd (CCIL) through earlier investments.

State Bank of India (SBI) has also acquired 6.125 per cent stake in CCIL IFSC for ₹6.125 crore.