BackIFCI sells Rs59.25 crore worth of shares in NSE
IFCI said it has sold 1.5 lakh shares at Rs3,950 per share. It did not disclose the name of the buyer
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Mumbai: State-owned lender IFCI Ltd on Monday said it has sold ₹ 59.25 crore worth of shares in the National Stock Exchange (NSE), its third such sale since September.
In filing to stock exchanges, IFCI said it has sold 1.5 lakh shares at ₹ 3,950 per share. It did not disclose the name of the buyer.
After the stake sale, IFCI holds 3.55% stake in the exchange. As of 31 December, the company had held 3.88% stake in NSE.
An IFCI spokesperson was not immediately available for comment.
On 30 December, IFCI sold approximately 0.17% stake or 75,000 shares in NSE for ₹ 29.63 crore. Earlier in September, it sold a 1.5% stake in the exchange for about ₹ 263.5 crore at ₹ 3,900 per share. The transaction valued the exchange at ₹ 17,550 crore.
Last week, state-owned lender IDBI Bank Ltd sold a 2% stake in NSE to Life Insurance Corp. of India for about ₹ 351 crore. The bank has been looking to sell its stake in other non-core assets as part of a turnaround plan to prop up its weak capital base.
In January, IFCI said it is looking at partial divestment of its stakes in Stock Holding Corporation of India Ltd (SHCIL) and complete divestment of stake in Assets Care and Reconstruction Enterprise Limited (ACRE). IFCI holds 52.86% and 19.34% stake in SHCIL and ACRE, respectively.
On Monday, IFCI shares closed at ₹ 24.5, down 2.2% on the BSE, while the benchmark Sensex closed at 25,399.65, up 0.51%.
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