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Business News/ Market / Stock-market-news/  IFCI to sell 0.86% stake in NSE
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IFCI to sell 0.86% stake in NSE

IFCI holds around 3.05% stake in the exchange out of which the lender plans to offload 0.69% during NSE's IPO

IFCI’s latest divestment of NSE stake was the lender’s fourth such sale since May 2016.Premium
IFCI’s latest divestment of NSE stake was the lender’s fourth such sale since May 2016.

Mumbai: IFCI Ltd on Monday approved the sale of a 0.86% stake in National Stock Exchange of India Ltd (NSE), the lender said in a filing to stock exchanges.

IFCI holds around 3.05% stake in the exchange out of which the lender plans to offload 0.69% during NSE’s initial public offer (IPO).

NSE filed a draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (Sebi) in December last year.

The IPO, where existing shareholders will sell a 25% stake in the bourse, has been in a limbo, owing to a Sebi investigation of NSE over allegations of unfair access.

IFCI’s latest divestment of NSE stake was the lender’s fourth such sale since May 2016.

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ABOUT THE AUTHOR
Jayshree P Upadhyay
Jayshree heads a team of reporters focussing on legal, regulatory, investigative stories. She has worked for over a decade, reporting on financial scams, legal stories and the intersection of corporate and regulatory issues. She is based in Mumbai and has previously worked with Business Standard, Mint, The Morning Context and Bloomberg TV India.
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Published: 25 Sep 2017, 10:34 PM IST
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