State-owned IFCI is likely to sell its 2.5 per cent stake in NSE in the next 15 days which may fetch the financial institution about Rs 500 crore.

“NSE sale is very much on the radar...We are in advance talks with a private equity firm on the valuation. Hopefully, the deal would be finalised in 10-15 days,” IFCI Managing Director Malay Mukherjee told PTI.

Infrastructure lender IFCI at present holds 5.44 per cent stake in the premier bourse.

IFCI, the country’s oldest financial institution, initially held 12.44 per cent stake in NSE, but sold seven per cent to Goldman Sachs Group Inc, NYSE Group Inc, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.

In December 2012, the financial institution became a state-owned entity with the government getting 55.53 per cent stake by conversion of optionally convertible bonds.

Besides IFCI, state-owned IDBI Bank also intends to exit NSE by selling its 5 per cent stake in the bourse by the end of the current fiscal.

At the end of quarter ending September 2014, the public sector lender held early 23 lakh shares of the National Stock Exchange (NSE) representing a 5 per cent stake in the bourse.

NSE commands a market value of nearly $3.5 billion (about Rs 21,000 crore) as per the previous transaction. This would peg the value of IDBI’s 5 per cent stake at more than Rs 1,000 crore.

As per the latest shareholding pattern, other major shareholders of NSE are Life Insurance Corporation (10.51 per cent), State Bank of India (10.19 per cent), and IDFC (5.33 per cent).

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