IFCI sells 0.17% stake in NSE for Rs 29.6 cr

IFCI said it had sold 75,000 shares at Rs 3,950 per share, without disclosing the name of the buyer

Financial institution IFCI on Wednesday told exchanges that it had sold 0.17 per cent stake in the National Stock Exchange (NSE) for Rs 29.6 crore.

Without disclosing the name of the buyer, IFCI said it had sold 75,000 shares at Rs 3,950 each. At this price, the exchange is valued at about Rs 18,000 crore. In September, IFCI had sold 1.5 per cent in the exchange at Rs 3,900 per share, bringing its stake in the exchange to 3.5 per cent from five per cent earlier.  

The State Bank of India is the largest shareholder in the NSE, with 10.19 per cent stake. Other shareholders include Bank of Baroda, Union Bank of India, Indian Bank, Oriental Bank of Commerce, Kotak Mahindra Bank, Punjab National Bank, and ICICI Bank.

Shares of IFCI closed slightly higher on Wednesday at Rs 27.3 on the BSE, up 1.67 per cent over the previous close. The benchmark BSE Sensex ended the day down 119 points, or 0.5 per cent, at 25,960.

In June 2013, GTI Capital Group had reportedly bought 0.44 per cent in the NSE from IDFC for Rs 79 crore, valuing the exchange at Rs 17,954 crore.