SBI acquires 9.95% stake in lndia lnternational Exchange (IFSC)

State Bank of India (SBI) today announced the acquisition of a 9.95% stake in India International Exchange (IFSC). In a regulatory filing, SBI said the 9.95% stake in IIE (IFSC) is "to be acquired subject to a maximum investment of ₹34.03 crore". IFSC is the first exchange to be set up at the Gujarat International Fin Tec-City.