SBI sells 5% NSE stake to Veracity Investments for Rs 911 cr - Dollar Advisory & Financial Services

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Saturday 2 July 2016

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

State Bank of India (SBI) has oversubscribed five per cent stake in securities market NSE to Mauritius-based truthfulness Investments for Rs 911 large integer, valuing the exchange at over Rs eighteen,200 crore. The bank oversubscribed twenty two.50 hundred thousand equity shares of National securities market (NSE), priced at Rs four,050 per unit to truthfulness Investments totalling Rs 911.25 crore.

SBI aforementioned during a regulative filing. The dealing comes at a time once NSE is discussing a potential public supply and listing. Recently, it aforementioned draft paper for domestic listing are filed with Sebi by Gregorian calendar month 2017. "Post this dealing, SBI holds five.19 per cent stake in NSE whereas our subsidiary SBI Capital Markets restricted holds another four.33 per cent within the NSE," it said.

Earlier this year, IDBI Bank had oversubscribed a pair of per cent stake in NSE to country's largest insurance firm LIC. NSE's different major shareholders embody LIC (12.51 per cent), Stock Holding Corporation of Asian nation (5 per cent), IDFC (3.90 per cent) and lots of investment corporations.

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