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State Bank of India (SBI) on Friday said it intends to divest up to 1.0101 per cent (50 lakh equity shares) of its equity shareholding in National Stock Exchange of India Ltd (NSEIL) through a competitive bidding process.
In its invitation for submission of bids for Partial disinvestment of its stake in NSEIL, India's largest bank said bids should be submitted by the bidders for a minimum lot of 10 lakh shares. Potential bidders have to submit their duly executed bid by 5 pm on January 15.
During FY2019 too, SBI had made partial divestment from its strategic investment in National Stock Exchange.
PTI adds:
Currently, State Bank of India (SBI) holds 5.19 per cent stake in the exchange.
“SBI is one of the shareholders of National Stock Exchange of India Ltd and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding in NSEIL (National Stock Exchange of lndia Ltd) through a competitive bidding process,” the lender said in a public notice.
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