Comments
Infrastructure lender IFCI has sold 1.5 per cent of its stake in National Stock Exchange for Rs 263.25 crore.
“IFCI has made partial disinvestment to the extent of 1.5 per cent of its stake in NSE i.e. 6,75,000 equity shares, to a certain buyer, at a price of Rs 3,900 per share, aggregating Rs 263.25 crore on September 15, 2015,” IFCI said in a filing to BSE.
As per NSE’s website, as on June 30, IFCI held 5.55 per cent in the company.
IFCI, the country’s oldest financial institution, initially held 12.44 per cent stake in NSE, but had sold seven per cent to Goldman Sachs Group, NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.
In December 2012, the financial institution became a state-owned entity with the government securing 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.
NSE’s other major shareholders include LIC (10.51 per cent), SBI (10.19 per cent), IDBI Bank (5 per cent), Stock Holding Corporation of India (5 per cent), IDFC (3.90 per cent) and many investment firms.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.