SBI to sell 1% stake in NSE through bidding

State Bank of India (SBI) has announced that it is looking to sell 50 lakh shares representing 1.01 per cent stake in the National Stock Exchange (NSE) as part of its capital raising exercise.
 

SBI holds 5.19 per cent stake in the exchange. SBI is one of the shareholders of NSE and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding in NSEIL (National Stock Exchange of India Ltd) through a competitive bidding process. SBI issued this in a public notice. The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format within January 15, 2020.

SBI Cards had filed a Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) with Sebi in November. The company will offer up to 13,05,26,798 equity shares via offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group (CA Rover).

In addition, the company will also issue fresh equity shares of Rs 500 crore. Up to 18,64,669 shares have been reserved for employees of the company whereas 1,30,52,680 have been reserved for SBI shareholders.

76 per cent stake in SBI Cards is held by SBI and the rest is held by Carlyle Group.