The State Bank of India (SBI) on Saturday announced selling of five percent stake in bourse NSE to Mauritius-based Veracity Investments for Rs. 911 crore, valuing the exchange at over Rs 18,200 crore.
In a regulatory filing, the largest public sector bank sold 22.50 lakh equity shares of National Stock Exchange (NSE), priced at Rs. 4,050 per unit to Veracity Investments totaling Rs. 911.25 crore.
The transaction comes at a time when NSE is discussing a possible public offer and listing.
"Post this transaction, SBI holds 5.19 percent stake in NSE while our subsidiary SBI Capital Markets Limited holds another 4.33 per cent in the NSE," added the report.
Earlier this year, IDBI Bank had sold two per cent stake in NSE to country's largest insurer LIC.