IFCI sells stake in NSE to DVI Fund Mauritius | business | Hindustan Times
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IFCI sells stake in NSE to DVI Fund Mauritius

business Updated: Sep 16, 2015 14:35 IST
HT Correspondent
HT Correspondent
Hindustan Times
DVI Fund Mauritius

DVI Fund Mauritius has bought 1.5% equity stake in National Stock Exchange from financial institution IFCI, for Rs 263.25 crore, according to people familiar with the transaction. The transaction values National Stock Exchange at Rs 17,550 crore.

In a statement issued to the BSE on Wednesday, IFCI said it sold 6.75 lakh shares it owns in NSE, at a price of Rs 3,900 a share, without specifying the buyer.

IFCI has been trying to exit from NSE for some time and the current deal with DVI Fund is part of the plan.

State-owned SBI is the largest shareholder in NSE, with a stake of 10.19%, while other shareholders include Bank of Baroda, Indian Bank, Union Bank of India, Oriental Bank of Commerce and other nationalized banks.

In June 2013, GTI Capital Group bought 0.44% in NSE from IDFC for Rs 79 crore.