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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