Citi’s Mauritius arm to sell over 1.6% in NSE

Mumbai: A Mauritius arm of Citibank is selling over 81 lakh shares of the unlisted National Stock Exchange (NSE) at a floor price of Rs 1,475-per-share, aggregating to nearly Rs 1,200 crore. At this price, India’s largest exchange is valued at about Rs 73,000 crore (around $10 billion). According to the deal’s term sheet, the bids are being invited from institutional buyers till March 19. The deal is set to close by May 31.

Citigroup Strategic Holdings Mauritius is selling 81.3 lakh shares with the minimum lot size of 5 lakh shares. NSE’s last disclosed shareholding pattern shows that this represents 1.6% of the exchange. Market players said the final price could be higher. Citigroup Global Markets India is the adviser to the deal.