“We would like to exit some part of our stake in the exchange, but we would like to do it in a way where there is proper price discovery. Hence, we are keen that the exchange should list,” SBI chairperson Arundhati Bhattacharya has been quoted as saying.
“We would like to exit some part of our stake in the exchange, but we would like to do it in a way where there is proper price discovery. Hence, we are keen that the exchange should list,” SBI chairperson Arundhati Bhattacharya has been quoted as saying.
SBI and its subsidiary SBI Capital Markets together hold nearly 15% of NSE.
A separate financial newspaper reports that SBI has initiated a process to sell its 15% stake in NSE.
"We want a proper price discovery for our stake in NSE," Bhattacharya told the paper. "This helps unlock value in non-core assets. We are asking them to get listed as soon as possible," she said.
In September IFCI sold a 1.5% stake in NSE, valuing the country's largest exchange at INR 17,550 crore.
At the same valuation, SBI’s 15% shareholding is worth more than INR 2,600 crore.
At a meeting on 23rd November, the NSE management had reportedly expressed the desire to list its shares on its own exchange as against SEBI's view that the shares should be listed on a rival exchange.
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