 "A security personnel stands guard in front of the gate of the State Bank of India (SBI) regional office in Kolkata")
State Bank of India (SBI) plans to sell part of its holding in National Stock Exchange (NSE), where it owns 15 per cent stake.
SBI intends to disinvest up to five per cent of its equity holding in NSE through a competitive bidding process, a public notice said.
SBI Capital Markets Limited has been appointed as a consultant to the client for advising and managing the proposed disinvestment process. The last date for submission of bid is May 19. The bank expects about Rs 1,000 crore from the stake sale, according to sources.
As per the bid document, the investor should be prepared to acquire either entire five per cent shareholding that is 22,50,000 of NSE, or part of it. However, the bidder should bid for at least two per cent shareholding of NSE.
However, the bidder should bid for at least 2% shareholding of NSE.
