SBI plans to sell 1% stake in NSE; invite bids

New Delhi: The country's largest lender SBI on Friday said it is looking to sell 50 lakh shares representing 1.01 per cent stake in the National Stock Exchange (NSE) as part of its capital raising exercise. Currently, State Bank of India (SBI) holds 5.19 per cent stake in the exchange.

"SBI is one of the shareholders of National Stock Exchange of India Ltd and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding in NSEIL (National Stock Exchange of lndia Ltd) through a competitive bidding process," the lender said in a public notice.

The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format and the last date for submission is January 15, 2020, it said.

The recent exit of IFCI from the NSE valued the country's largest stock exchange at around Rs 35,000 crore. Last month, IFCI sold its entire 2.44 per cent stake in the NSE for a consideration of Rs 805.6 crore.