SBI sells 5% of NSE stake to Veracity for Rs 911 crore

Industry:    2016-07-05

The State Bank of India (SBI) has sold five per cent stake in the-the National Stock Exchange (NSE), to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at more than Rs 18,200 crore.

The bank sold 2.25 million equity shares of NSE, priced at Rs 4,050 a unit, SBI said in a regulatory filing. The transaction comes at a time when the NSE is discussing a possible public offer and listing. Recently, it said a draft paper for domestic listing will be filed with the Securities and Exchange Board of India (Sebi) by January 2017.

“After this transaction, SBI holds 5.19 per cent stake in NSE while our subsidiary SBI Capital Markets Limited holds another 4.33 percent in the NSE,” it said.

Earlier this year, IDBI Bank had sold two per cent stake in the NSE to the country’s largest insurer, Life Insurance Corporation of India (LIC). NSE’s major shareholders include LIC (12.51 per cent), Stock Holding Corporation of India (five per cent) and IDFC (3.90 percent), among others.

http://www.business-standard.com/article/finance/sbi-sells-5-of-nse-stake-to-veracity-for-rs-911-crore-116070200036_1.html

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