The National Stock Exchange has picked up 9.42 per cent stake in National Securities Depository (NSDL) from the Specified Undertaking of the Unit Trust of India (SUUTI), taking its total stake to a little over 25 per cent.
"SUUTI has sold 9.42 per cent of its 25 per cent equity stake held in NSDL to the NSE-- one of its existing sponsors-- whereby the NSE's shareholding in NSDL has gone up from 15.63 per cent to 25.05 per cent," ICICI Securities, the sole advisor to SUUTI for the transaction, said in a statement today.
However, the company did not disclose the financial details of the transaction.
"SUUTI does not propose to sell further stake in NSDL to NSE," it further said. Post-transaction, SUUTI's stake in NSDL will come down to 15.58 per cent.
With a 30 per cent stake in NSDL, IDBI continues to be the largest sponsor of equity market depository. IDBI, UTI and NSE are the promoters of NSDL.
Other stakeholders include SBI, Oriental Bank of Commerce, Citigroup, StanChart, HDFC Bank, HSBC, Deutsche Bank, Dena Bank, Canara Bank and Union Bank of India.
NSDL holds securities in depository accounts that is more or less similar to holding funds in bank accounts.
