Infrastructure lender IFCI Ltd has sold 0.20% stake in National Stock Exchange of India Ltd (NSE) for Rs92.51 crore.
The company has made partial disinvestment to the extent of 1 million equity shares of NSE at the rate of Rs925.10 per equity share, IFCI said in a regulatory filing.
In September 2017, the IFCI board had approved the sale of 0.86% stake in NSE to one or more interested buyers in part or full. According to the NSE website, as on 30 September 2017, IFCI held 3.05% in the stock exchange.
IFCI, the country’s oldest financial institution, initially held 12.44% stake in NSE, but sold 7% to the Goldman Sachs Group, the NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.
IFCI has been selling stake in NSE from time to time. NSE’s other major shareholders include LIC (12.51%), investment firms SAIF II SE Investments Mauritius Ltd (5%) and Tiger Global Five Holdings (3%).
Source: Mint