IFCI offloads 1.5% in NSE for Rs 263 crore

Infrastructure lender IFCI has sold 1.5% of its stake in stock exchange NSE for Rs 263.25 crore.

"IFCI has made partial disinvestment to the extent of 1.5% of its stake in NSE i.e. 6,75,000 equity shares, to a certain buyer, at a price of Rs 3,900 per share, aggregating Rs 263.25 crore on September 15, 2015," IFCI said in a filing to BSE.

As per NSE's website, as on June 30, IFCI held 5.55% in the company.

IFCI, the country's oldest financial institution, initially held 12.44% stake in NSE, but sold seven per cent to Goldman Sachs Group, NYSE Group, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.

In December 2012, the financial institution became a state-owned entity with the government securing 55.53% stake by conversion of optionally convertible bonds.

Besides IFCI, state-owned IDBI Bank also intends to exit NSE by selling its 5% stake in the bourse by the end of the current fiscal.

NSE's other major shareholders include LIC (10.51%), SBI (10.19%, IDBI Bank (5%), Stock Holding Corporation of India (5%), IDFC (3.90%) and many investment firms.