IDFC Plans To Part Exit From NSE
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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