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SBI Group to Sell 1% NSE Stake in Rs 30,000 Cr IPO

By Business DeskSBI Group to Sell 1% NSE Stake in Rs 30,000 Cr IPO

SBI Group plans to divest 1% of its stake in the National Stock Exchange (NSE) as part of NSE’s upcoming Rs 30,000 crore IPO. SBI’s mortgage portfolio also shows strong growth.

The State Bank of India (SBI) group plans to divest approximately 1% of its stake in the National Stock Exchange (NSE).

This move is part of the exchange’s significant forthcoming Initial Public Offering (IPO), valued at Rs 30,000 crore, as confirmed by SBI Chairman C S Setty.

Divestment Breakdown

The stake sale from the SBI group will be split between its entities.

  • SBI will dilute 0.65% of its holding.
  • SBI Capital Markets Ltd will divest 0.35%.

Currently, SBI holds 3.23% in NSE, while SBI Capital Markets holds 4.33%. Setty also noted there are no immediate plans to monetize other subsidiaries.

Mortgage Portfolio Surges

SBI is also seeing robust growth in its housing finance division.

The bank’s mortgage portfolio is projected to exceed Rs 10 lakh crore this current quarter.

  • SBI surpassed a Rs 9 lakh crore home loan portfolio in the previous financial year.
  • The bank commands a nearly 28% market share in the home loan segment.
  • Over 460 home loan processing centers operate across India.

Setty attributed this growth to customer trust in SBI’s transparent pricing and thorough due diligence for builders.

Home loans are crucial for India’s economic growth, supporting over 200 allied industries.

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