The Jignesh Shah-promoted Financial Technologies (FT) has sold 440,000 shares in rival bourse National Stock Exchange (NSE) for Rs160 crore. The announcement was made to the Bombay Stock Exchange today.
The stake sale values NSE at Rs16,000 crore. In May, the NYSE had valued NSE at over Rs15,600 crore, when it sold five per cent stake to Temasek Holdings.
Currently, NSE holds nearly one per cent stake in the Multi Commodity Exchange, or MCX. In the past couple of years, NSE has brought down its holding in MCX from 2.56 per cent, which it had purchased in May 2005. “This is part of the normal treasury sale,” FT said in response to a query from Business Standard.
FT sold the 440,000 shares held in NSE at a price of Rs3,800 a share, which it had bought in 2007 for Rs2,778 per share.