Goldman won't sell 5% stake in NSE

Global financial services firm Goldman Sachs has said it is not planning to sell its five per cent stake in the National Stock Exchange (NSE).

"... Goldman Sachs currently has no plans to dispose of its five per cent interest in the National Stock Exchange of India nor is it engaged in any discussions in relation to the sale of this investment," Goldman Sachs spokesman Edward Naylor said in an e-mail reply today.

The spokesman was refuting a media report which mentioned the investment bank may be looking to exit from NSE.

In 2007, Goldman had purchased a five per cent stake in NSE along with NYSE Group, General Atlantic, Softbank Asian Infrastructure, which had also bought five per cent stakes each in the bourse for an aggregate of about $490 million.

The deal had valued the exchange at around $2 billion.

The foreign investors had purchased the 20 per cent in NSE two years back from IFCI, IL&FS, GIC, ICICI Bank and PNB, who had fully or partially sold their holding in the exchange.

In 2008, Premji Invest, an investment fund-led by Wipro chairman Azim Premji picked up three per cent in NSE for $100 million (Rs 480 crore).