BoI to pare stake in STCI Finance
Bank of India (BoI) is planning to sell its partial or entire stake in STCI Finance. The proposed sale is a part of its strategy to unlock the value of its investments in subsidiaries, associates and joint ventures. The public sector bank holds 1,13,83,781 equity shares, representing 29.96 per cent stake in STCI. STCI is a
systemically-important, nondeposit-taking, non-banking finance company (NBFC),
providing loans against shares, corporate loans against properties, construction finance and corporate loans. The NBFC has two wholly-owned subsidiaries, STCI Primary Dealer and STCI Commodities.