SBI invites bids for sale of up to 50 lakh NSE shares

NEW DELHI: State Bank of India, country’s biggest lender by assets, is mulling to divest stake in the National Stock Exchange (NSE), a media report suggested.

The lender has invited bids for the sale of up to 5 million shares of the stock exchange, ETNOW reported quoting Cogencis.

“SBI says minimum bid for sale of NSE shares should be 1 million shares,” the report added. The last date for submitting the bids for NSE shares is January 15.


The stake sale is part of the bank’s plan to divest investment in non-core assets, according to another report by TOI.

The bank had earlier sold 3.9 per cent stake in the stock exchange for Rs 1,700 crore valuing the exchange at around Rs 43,560 crore.

This is more than double the valuation of the exchange in 2016, when the lender had sold 5 per cent stake in NSE to Mauritius-based foreign investor Veracity Investments for Rs 911 crore.

In October, IDBI had sold 35 lakh shares in NSE representing 0.7 per cent stake for an undisclosed amount.

At present, shares of National Stock Exchange are hovering between Rs 900-950 in the unlisted market.