IFCI to exit NSE; board approves selling 3.05% stake
"The Board has given its approval for sale of remaining 3.05 per cent (13,72,750 equity shares) of the equity stake held by IFCI in NSE", it said in a regulatory filing.
- May 4, 2016,
- Updated May 4, 2016 7:57 AM IST
Infrastructure term lender IFCI on Tuesday said its board has approved selling its remaining 3.05 stake in the National Stock Exchange (NSE).
"The Board has given its approval for sale of remaining 3.05 per cent (13,72,750 equity shares) of the equity stake held by IFCI in NSE", it said in a regulatory filing.
Earlier in December, IFCI had sold its 0.17 per cent stake in NSE for Rs 29.63 crore. And in September 2015, it had sold 1.5 per cent of its stake in the bourse for Rs 263.25 crore.
IFCI, country's oldest financial institution, initially held 12.44 per cent stake in NSE, but sold 7 per cent to the Goldman Sachs Group, the NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.
NSE's other major shareholders include LIC (10.51 per cent), SBI (10.19 per cent), IDBI Bank (4.99 per cent), Stock Holding Corporation of India (5 per cent), IDFC (1.90 per cent) and many investment firms.
Further, IFCI said it has introduced a new product of short term lending of tenure up to one year.
Infrastructure term lender IFCI on Tuesday said its board has approved selling its remaining 3.05 stake in the National Stock Exchange (NSE).
"The Board has given its approval for sale of remaining 3.05 per cent (13,72,750 equity shares) of the equity stake held by IFCI in NSE", it said in a regulatory filing.
Earlier in December, IFCI had sold its 0.17 per cent stake in NSE for Rs 29.63 crore. And in September 2015, it had sold 1.5 per cent of its stake in the bourse for Rs 263.25 crore.
IFCI, country's oldest financial institution, initially held 12.44 per cent stake in NSE, but sold 7 per cent to the Goldman Sachs Group, the NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.
NSE's other major shareholders include LIC (10.51 per cent), SBI (10.19 per cent), IDBI Bank (4.99 per cent), Stock Holding Corporation of India (5 per cent), IDFC (1.90 per cent) and many investment firms.
Further, IFCI said it has introduced a new product of short term lending of tenure up to one year.