IDBI Bank sells 2% stake in NSE to LIC

With this, the stake of IDBI Bank in NSE has come down to 3%, from 5% earlier

State-owned IDBI Bank on Thursday said it had sold two per cent stake in the National Stock Exchange to Life Insurance Corporation of India (LIC).

The bank has sold 900,000 equity shares constituting two per cent of the paid-up capital of the NSE to LIC on March 30, IDBI Bank said in a statement. However, the bank did not disclose the deal value.

With this, the stake of IDBI Bank in NSE has come down to three  per cent, from five per cent earlier. Last year, another public sector lender IFCI had sold 1.5 per cent of its stake in NSE for Rs 263.25 crore. IFCI sold 6.75 equity shares at a price of Rs 3,900 per share.

NSE's other major shareholders include LIC (12.51 per cent), SBI (10.19 per cent), Stock Holding Corporation of India (5 per cent), IDFC (3.90 per cent) and many investment firms.