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Correction: BSE to Acquire Additional Stake in India International Bullion Holding for INR505 Million

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(Corrects the number of shares being acquired in the second paragraph.)

BSE (NSE:BOM) seeks to acquire an additional stake in India International Bullion Holding IFSC (IIBH) for 505 million Indian rupees to increase its direct holding in the company to 20% from 3.33%.

The exchange will purchase 500 million equity shares of IIBH from India International Exchange (IFSC) and India International Clearing Corporation, according to an Indian bourse filing on Tuesday. Following the acquisition, IIBH will become a direct associate of the exchange.

The transaction is aimed at consolidating its shareholding in IIBH and supporting the development of the international bullion market at GIFT City, Gujarat.

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