Since June 2016, when the NSE expressed its intention to list for the first time, some of its anchor shareholders such as SBI, IDBI Bank and IFCI started selling out a part of their stake to foreign investors.
The latest was SBI selling 5 per cent to Veracity, a Mauritius based firm at ₹911 crore valuing NSE at ₹18,200 crore. The bank still holds 5.19 per cent. Another founder shareholder IFCI sold 0.5 per cent during the second quarter but the board of financial institution decided to hold divestment of its remaining 3.05 per cent stake in NSE.
In addition, Stock Holding Corporation of India, another founder shareholder of NSE, also part sold its stake to 4.44 per cent in Q2FY17 from 5 per cent in Q1FY17. One per cent stake in the bourse equals 4.5 lakh shares.
The only domestic institution to have increased its stake in NSE is LIC which acquired 2 per cent in the fourth quarter of last fiscal taking its stake to 12.51 per cent.
In an interview to BusinessLine in September, Ashok Chawla , Chairman, NSE, had said the bourse would first focus on domestic listing.
It may be recalled that BSE had filed its draft prospectus in September with market regulator for an initial public offering. The Asia’s oldest bourse plans to sell about 3 crore shares, or 27.43 per cent stake, through the offer-for-sale route. BSE, which filed a corrigendum on Tuesday, awaits regulator’s nod.