Stocks

IFCI receives bids for sale of entire stake in NSE

K R Srivats New Delhi | Updated on December 03, 2019 Published on December 03, 2019

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It is understood that IFCI had pegged the floor price at about Rs 810 per share and most of the bids have come at levels above this price

IFCI Ltd, a public sector company, has received bids for sale of its entire 2.44 per cent equity holding in National Stock Exchange (NSE), a top official said.

Confirming that IFCI has received the bids, E Sankara Rao, Managing Director & CEO, IFCI said that the bids have been received and that IFCI was in the process of compiling them. “Documentation is now going on and you will hear more about it by the end of the day or tomorrow,” Rao told BusinessLine when contacted.

Rao expressed hope that the entire stake sale will be completed this month.

It is understood that IFCI had pegged the floor price at about Rs 810 per share and most of the bids have come at levels above this price.

It may be recalled that IFCI’s Board had in June this year approved the sale of IFCI’s remaining stake of 1,20,66,871 equity shares comprising of 2.44 per cent of the total equity shares of NSE.

In June this year, Rao had indicated that IFCI was hopeful of garnering about Rs 3,000 crore during the current fiscal by selling stake in National Stock Exchange (NSE), Clearing Corporation of India (CCIL) and Stock Holding Corporation of India Ltd.

Published on December 03, 2019
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