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SBI may sell 5% stake in NSE

SBI-State Bank of India is proposing to sell up to 5% of its holding in the National Stock Exchange. This follows IDBI Bank selling its 2% stake in the exchange in March. The bank has mandated SBI Capital Markets to oversee the disinvestment through a competitive bidding process. Among the shareholders who own 5% or more stakes in the NSE are SBI (10.19%) and SHCIL (5%). IDBI Bank had sold some 9 lakh shares in NSE to the Life Insurance Corporation of India. Following the transaction, the bank’s stake in NSE came down to 3% while LIC’s stake has increased to 12.51%.

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