SBI to disinvest up to 5% stake in NSE

State Bank of India (SBI) has decided to divest 5% stake in National Stock Exchange (NSE). It has appointed SBI Caps to find buyers for the stake. 

SBI Capital Markets has invited bids to offload up to 5% stakeholding in the National Stock Exchange of India (NSE) on Thursday. 

"One of the shareholders of NSE ('Client') intends to disinvest up to 5% of its equity shareholding in National Stock Exchange of India ('NSE'), through a competitive bidding process," SBICAP said in a release on May 12. 

SBI Capital Markets ('SBICAP') has been appointed as an exclusive consultant to the client for advising and managing the proposed disinvestment process, it noted. 

SBICAP aims to sell 22,50,000 equity shares it holds in the stock exchange and has invited potential investors to submit their duly executed bids by no later than 5:00 pm (IST) on May 19. 

In order to be part of this bidding process, the bidder should bid for at least 2% shareholding of NSE.

SBI Capital Markets is a wholly-owned subsidiary and investment banking arm of State Bank of India (SBI), the largest commercial bank in India.