 "SBI to sell 2% equity stake in IPO-bound NSDL through offer for sale")
State Bank of India (SBI) on Monday said it proposes to sell 2 per cent stake by offloading 40 lakh shares in depository organisation NSDL.
The bank intends to participate in an Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL), SBI said in a regulatory filing.
SBI holds 5 per cent stake in the NSDL while it intends to divest 2 per cent in the Offer For Sale (OFS) subject to the terms of the proposed IPO, it said.
NSDL is a depository set-up to carry on, regulate and manage the business of providing depository and clearing and settlement services in respect of securities and instruments of all kinds.
It has three operating segments -- depository, database management services, and banking services.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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