IDBI Bank plans to exit NSE, sell its 1.05% stake
NSE had planned an IPO three years ago. However, the issue was delayed after Sebi initiated a probe against the exchange alleging misuse of its co-location facilities.
This stake sale could fetch the bank around Rs 500 crore as NSE shares are currently traded at around Rs 900 in the unofficial market. Last August, State Bank of India sold its 3.9 per cent stake in the exchange for about Rs 1,700 crore.
NSE is valued around Rs 44,000 crore if its price in recent offmarket deals is to go by. In July 2016, SBI had sold 5 per cent stake in NSE to Mauritius-based foreign investor Veracity Investments for Rs 911 crore.
NSE had planned an initial public offer (IPO) three years ago. However, the issue was delayed after the Securities Exchange Board of India (Sebi) initiated a probe against the exchange alleging misuse of its co-location facilities.
LIC held nearly 12.51 per cent stake, as per its FY17-18 annual report.