Free Stock Tips: SBI Sells 5% NSE Stake

SBI sells 5% NSE stake to Veracity Investments for Rs 911 cr

State Bank of India   (SBI) has sold 5 per cent stake in bourse NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore.

SBI Bank

The bank sold 22.50 lakh equity shares of National Stock Exchange (NSE), priced at Rs 4,050 per unit to Veracity Investments totalling Rs 911.25 crore, SBI said in a regulatory filing. The transaction comes at a time when NSE is discussing a possible public offer and listing. Recently, it said draft paper for domestic listing will be filed with Sebi by January 2017.

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