Money & Banking

IFCI realises ₹805 cr from NSE stake sale

K.R.Srivats New Delhi | Updated on December 24, 2019 Published on December 24, 2019

IFCI chief hopeful of garnering ₹3,000 crore this fiscal by liquidating stakes in NSE, Clearing Corporation of India and Stock Holding Corporation

IFCI, a government company, has realised ₹805.6 crore from the divestment of its remaining 2.44 per cent stake in National Stock Exchange.

This represents about 82 per cent of the total committed amount for the 2.44 per cent equity holding in NSE that was put on the block, sources close to the developments said.

IFCI is quite hopeful that the entire transaction would be completed by the first week of January next year.

IFCI had pegged the floor price at ₹810 per share, and most of the bids had come at a level higher than the floor price, it is learnt.

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, IFCI Managing Director & CEO E Sankara Rao had indicated that IFCI was hopeful of garnering about ₹3,000 crore during the current fiscal by selling a stake in NSE, Clearing Corporation of India and Stock Holding Corporation of India Ltd.

 

Published on December 24, 2019
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