SBI plans to sell up to 5% stake in NSE

New Delhi , PTI:State Bank of India (SBI) plans to sell part of its holding in National Stock Exchange (NSE), where it owns 15% stake.

SBI intends to disinvest up to 5% of its equity holding in NSE through a competitive bidding process, a public notice said.
SBI Capital Markets Limited has been appointed as a consultant to the client for advising and managing the proposed disinvestment process.
The last date for submission of bid is May 19.

The bank expects about Rs 1,000 crore from the stake sale, according to sources.
As per the bid document, the investor should be prepared to acquire either entire 5 per cent shareholding that is 22,50,000 of NSE, or part of it.
However, the bidder should bid for at least 2% shareholding of NSE.