State Bank of India (SBI) and its subsidiary SBI Capital Markets Ltd together plan to dilute up to 1 per cent stake in the National Stock Exchange (NSE) through the exchange’s proposed Rs 30,000-crore initial public offering (IPO).
The bank is participating in the NSE IPO and will dilute a 0.65 per cent stake in the exchange, SBI Chairman C S Setty told PTI in an interview.
“We are participating in that divestment. We propose to divest 0.65 per cent and 0.35 per cent by SBI Capital Markets because both of us hold the stake. So together, about 1 per cent as a SBI group… it could be less depending on any other shareholders joining,” he said.
SBI currently holds a 3.23 per cent stake in the NSE, while SBI Capital Markets owns 4.33 per cent in the country’s largest stock exchange.
He clarified that there is no the monetisation plan for other subsidiaries in the immediate future.
Last month, SBI, along with its foreign partner Paris-headquartered Amundi, diluted around 10 per cent st
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