Connect with us

Hi, what are you looking for?

News

IDBI Bank to hold back stake in NSE

idbiIDBI Bank has decided not to sell its stake in the National Stock Exchange for the time being. The bank feels it can get a higher price when the exchange comes out with a proposal to sell shares to the public. The bank had earlier divested more than half of its holding in NSE as part of its effort to shore up its balance sheet in the wake of unprecedented levels of NPA. The bank held 5% stake in NSE at the start of 2016. It sold 2% to LIC at Rs 3900. It had earned Rs 351 crore from this sale. The bank had said later that it would sell the remaining 3% too soon and sold 1.5% stake to TIMF Holdings. NSE is likely to go for an IPO in January 2017.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.