SBI to sell 2% stake in IPO-bound NSDL

State Bank of India (SBI) on Monday said it proposes to sell 2% stake by offloading 40 lakh shares in depository organisation NSDL. The bank intends to participate in an Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL), SBI said in a regulatory filing.

SBI holds 5% stake in the NSDL while it intends to divest 2% in the Offer For Sale (OFS) subject to the terms of the proposed IPO, it said.

NSDL is a depository set-up to carry on, regulate and manage the business of providing depository and clearing and settlement services in respect of securities and instruments of all kinds.


It has three operating segments -- depository, database management services, and banking services.