Infrastructure lender IFCI has sold 0.20 per cent stake in stock exchange NSE for Rs 92.51 crore.
Infrastructure lender IFCI has sold 0.20 per cent stake in stock exchange NSE for Rs 92.51 crore. The company has made partial disinvestment to the extent of 10,00,000 number of equity shares of National Stock Exchange of India Ltd (NSE) at the rate of Rs 925.10 per equity share, IFCI said in a regulatory filing. In September 2017, the IFCI board had approved sale of 0.86 per cent stake in NSE to one or more interested buyers in part or full. According to the NSE website, as on September 30, 2017, IFCI held 3.05 per cent in the stock exchange. IFCI, the country’s oldest financial institution, initially held 12.44 per cent stake in NSE, but sold 7 per cent to the Goldman Sachs Group, the NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007. IFCI has been selling stake in NSE from time to time. NSE’s other major shareholders include LIC (12.51 per cent), investment firms SAIF II SE Investments Mauritius Ltd (5 per cent) Tiger Global Five Holdings (3 per cent).
(More details are awaited.)