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SBI sells 5% NSE stake to Veracity Investments for Rs 911 cr

Press Trust of India  |  New Delhi 

State Bank of India (SBI) has sold 5 per cent stake in bourse NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore.

The bank sold 22.50 lakh equity shares of National Stock Exchange (NSE), priced at Rs 4,050 per unit to Veracity Investments totalling Rs 911.25 crore, SBI said in a regulatory filing.

The transaction comes at a time when NSE is discussing a possible public offer and listing. Recently, it said draft paper for domestic listing will be filed with Sebi by January 2017.

"Post this transaction, SBI holds 5.19 per cent stake in NSE while our subsidiary SBI Capital Markets Limited holds another 4.33 per cent in the NSE," it said.

Earlier this year, IDBI Bank had sold 2 per cent stake in NSE to country's largest insurer LIC.

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

First Published: Fri, July 01 2016. 19:43 IST
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