IDBI Capital seeks bids for stake in NSE

IDBI Capital seeks bids for stake in NSE

Mumbai: An investor in National Stock Exchange of India Ltd, or NSE, is offering a stake in the country’s largest bourse for sale, according to an advertisement posted on the stakeholder’s behalf by IDBI Capital Market Services Ltd.

A client of IDBI Capital plans to sell 384,798 shares in the Mumbai-based company, according to the posting in the ‘Economic Times’ newspaper on Tuesday. The last date for submitting bids is 22 September.


Jindal Power issue to part-fund expansion

Mumbai:Jindal Steel and Power Ltd, or JSPL, may sell shares in a unit to partly fund a Rs13,400 crore plan to more than triple its electricity generation capacity in India.

A quarter of the funds will come from selling at least 10% in Jindal Power Ltd in an initial public offering, and the rest from debt, deputy managing director Sushil Maroo said on Monday. The sale will be completed in the year ending 31 March, he said, without giving borrowing plans.

— Bloomberg