IDFC Limited is planning to part exit from its holding in NSE by selling around 3% stake, taking it down to 3.55% from 6.55%.

The Tata Group, Vedanta, Barclays, LIC and the State Bank Group are interested in buying NSE shares.

IDBI Capital is the lead manager for this share sale process.

Last year, IDFC sold around 6 lakhs shares cutting its stake by 1.33%.

The NSE operates a nation-wide, electronic market, offering trading in Capital Market, Derivatives and Currency Derivates segments including equities, ETFs, Retail Government Securities etc.

It accounts for nearly 74% in Equity Market and more than 98% market share in equity derivatives segment. Today NSE network Stretches to more than tan 1500 locations in the country and supports more than 2, 30,000 terminals.

The top shareholders in NSE as of December 21, 2011 include the LIC which holds 10.5% stake; State Bank of India which holds 10.2% shares and IDFC with 6.6% stake.

The domestic financial institutions like IFCI (5.6%), Stock Holding Corporation of India (5%), IDBI Bank (5%) and SBI Capital Markets (4.3%) are the other major shareholders.

The foreign institutional players like General Atlantic Global Investments, Goldman Sachs Strategic Investments, SAIF Partners and Aranda Investments hold 5% each.

Last year, National Commodity & Derivatives Exchange was planning to buy out 65% stake in National Commodity Clearing Limited (NCCL) from NSE.

In the space, BSE was planning to come up with an IPO by the end of this fiscal year; NYSE Euronext was planning to sell 4.79% stake, either in part or in full, in homegrown commodity exchange MCX.

London Stock Exchange acquired 5% stake in Delhi Stock Exchange with a purpose to change the trading model of DSE through faster trading technology.

Last Monday, MCX-SX made its debut operations as third stock exchange.

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KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
2013-02-13	NSE - IDFC (Part Exit)	Private Equity		-
2013-01-02	NSE (Exit) - National Commodity Clearing - NCDEX	M&A		0.92
2011-11-29	NSE - NCDEX - BSE	Private Equity		6.84
2011-05-23	NSE - NCDEX - Oman Investment Fund	Private Equity	Oman Investment Fund	-
2010-11-12	NSE - FT (Stake Sale)	Private Equity		37.30
2010-09-02	NSE - IFCI (Exit)	M&A		-
2010-05-11	NSE - Singapore Exchange	M&A	Singapore Exchange Limited	150.00
2010-05-03	NYSE (Exit) - NSE - Temasek	Private Equity	Temasek Holdings Pte. Limited	175.00
2010-03-09	NSDL-NSE	M&A	National Stock Exchange Of India Limited	25.00
2009-06-02	National Stock - Norwest Venture Partners	Private Equity	Norwest Venture Partners	53.15
2008-10-07	National Stock - PremjiInvest Fund	Private Equity	PremjiInvest Fund	100.00
2007-12-31	National Stock - Kotak Private Equity	Private Equity	Kotak Private Equity Group	-
2007-09-06	NSE - Fidelity Trustee Corporation	M&A	Fidelity Trustee Corporation Private Limited Housing Development Finance Corporation Limited	8.57
2007-03-08	National Stock - Actis LLP, Citi	Private Equity	Actis LLP Citi Venture Capital International Morgan Stanley Private Equity Asia III	138.00
2007-01-09	National Stock - General Atlantic, SAIF Partners, Goldman Sachs, NYSE Group Inc.	Private Equity	NYSE Group Inc. General Atlantic LLC SAIF Partners Goldman Sachs (Principal Investments)	575.00
2006-07-30	National Stock - IL&FS Securities Services	M&A	IL&FS Securities Services Limited	-

 

  Recent Transactions In The Sector

Date	Type	Buyer	Target	Size ($mn)	State
10/05/2013	Private Equity	Piramal Enterprises Limited	Shriram Transport Finance Company Limited	304.57	Completed
10/04/2013	Private Equity	Aditya Birla Private Equity	The Ratnakar Bank Limited	5.95	Completed
22/03/2013	Private Equity		Manappuram Finance Limited	-	Completed
26/02/2013	Private Equity		AU Financiers (India) Private Limited	22.21	Completed

 

  Profiles

Company
Name	Promoters	Office	Competitor	Website
Infrastructure Development Finance Company Limited	The President of India Government Of India	KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai 600031	Infrastructure Leasing & Financial Services Limited IFCI Limited	http://www.idfc.com
National Stock Exchange Of India Limited	IDBI Bank Limited LIC of India Industrial Finance Corporation Of India State Bank of India ICICI Bank Limited SBI Capital Markets Limited (I Bank) Stock Holding Corporation Of India Limited Bank of Baroda Canara Bank General Insurance Corporation Of India National Insurance Company Limited The New India Assurance Company Limited The Oriental Insurance Company Limited United India Insurance Company Limited Punjab National Bank Oriental Bank Of Commerce Indian Bank Union Bank Of India Infrastructure Development Finance Company Limited	Exchange Plaza,C-1,Block-G, Bandra Kurla Complex, Bandra(East)	Bombay Stock Exchange Limited United Stock Exchange of India Limited	http://www.nseindia.com

  Advisor

IDBI Capital Market Services Limited

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