SBI invites bids to sell its 1% stake in NSE

New Delhi: State-run State Bank of India (SBI) on Friday invited bids for selling its 1% stake in the NSE.

"SBI is one of the shareholders of National Stock Exchange of India Ltd (NSEIL) and intends to divest up to 1.0101% (50,00,000 equity shares) of its equity shareholding in the NSEIL through a competitive bidding process," the country's largest lender said in a public notice.

SBI said it is looking to sell 50 lakh shares representing 1.01% stake in the National Stock Exchange (NSE) as part of its capital raising exercise. Currently, SBI holds 5.19% stake in the exchange.

The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format and the last date for submission is January 15, 2020, it said.

In 2016, SBI sold 5% stake in the NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal