comScore
Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Market / Stock-market-news/  SBI sells 5% NSE stake to Veracity Investments for Rs911 crore
Back

New Delhi: State Bank of India (SBI) has sold 5% stake in NSE to Mauritius-based Veracity Investments for 911 crore, valuing the exchange at over 18,200 crore.

The bank sold 22.50 lakh equity shares of National Stock Exchange of India Ltd (NSE), priced at 4,050 per unit to Veracity Investments totalling 911.25 crore, SBI said in a regulatory filing.

The transaction comes at a time when NSE is discussing a possible public offer and listing.

Recently, it said draft paper for domestic listing will be filed with the Securities and Exchange Board of India by January 2017.

“Post this transaction, SBI holds 5.19% stake in NSE while our subsidiary SBI Capital Markets Ltd holds another 4.33% in NSE," it said.

Earlier this year, IDBI Bank Ltd sold 2% stake in NSE to the country’s largest insurer LIC.

NSE’s other major shareholders include LIC (12.51%), Stock Holding Corp. of India (5%), IDFC (3.90%) and many investment firms.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 02 Jul 2016, 12:15 AM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App