CLOSED
NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%

SBI Group Sells 1% Stake in NSE’s Rs 30,000 Crore IPO

By Business DeskSBI Group Sells 1% Stake in NSE’s Rs 30,000 Crore IPO

State Bank of India and SBI Capital Markets will divest a combined 1% stake in the National Stock Exchange’s massive Rs 30,000 crore IPO, signaling a strategic move.

State Bank of India (SBI) and its investment banking arm, SBI Capital Markets Ltd, intend to dilute up to a one percent stake in the National Stock Exchange (NSE). This divestment is part of the NSE’s proposed Rs 30,000 crore Initial Public Offering (IPO).

Key Divestment Details

  • The SBI group will collectively divest approximately one percent of its holdings in NSE.
  • SBI is set to contribute 0.65 percent of the stake.
  • SBI Capital Markets will divest 0.35 percent of its share.
  • Currently, SBI holds 3.23 percent in NSE.
  • SBI Capital Markets Ltd holds a 4.33 percent stake in the exchange.

SBI Chairman C S Setty confirmed their participation in the divestment during a recent interview. He reiterated the group’s collective decision regarding the stake reduction.

The upcoming IPO of the National Stock Exchange is valued at a substantial Rs 30,000 crore, representing a significant market event. This move by the SBI group aligns with the broader public offering strategy.

Setty further clarified that the bank has no immediate intentions to monetize other subsidiaries. This statement provides clarity on SBI’s near-term strategic focus regarding its asset portfolio.

Home/banking/Article