IFCI offloads 0.17% stake in NSE for Rs 29.6 cr

Infrastructure lender IFCI has sold its 0.17 per cent stake in the NSE for Rs 29.63 crore.

“IFCI has made a partial disinvestment to the extent of approximately 0.17 per cent of its stake in NSE viz. 75,000 equity shares, to a certain buyer at price of Rs 3,950 per share, aggregating to Rs 29.63 crore on December 30, 2015,” IFCI said in a regulatory filing today.

Earlier in September, IFCI sold 1.5 per cent of its stake in the bourse for Rs 263.25 crore.

According to the NSE website, as on September 30, IFCI held 4.05 per cent in the stock exchange.

IFCI, the country’s oldest financial institution, initially held 12.44 per cent stake in NSE, but sold 7 per cent to the Goldman Sachs Group, the NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.

In December 2012, the financial institution became a state-owned entity, with the Government securing 55.53 per cent stake by conversion of optionally convertible bonds.

Besides IFCI, state-owned IDBI Bank intends to exit NSE by selling its 5 per cent stake in the bourse by the end of the current fiscal.

NSE’s other major shareholders include LIC (10.51 per cent), SBI (10.19 per cent), IDBI Bank (4.99 per cent), Stock Holding Corporation of India (5 per cent), IDFC (1.90 per cent) and many investment firms.