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Business News/ Market / Stock-market-news/  SBI sells 5% NSE stake to Veracity Investments for Rs911 crore

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.

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Updated: 02 Jul 2016, 12:15 AM IST
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