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(As on Jan 02, 2017, 13:54)

IFCI to sell 0.8% stake in NSE through IPO

IFCI said it has proposed to sell around 0.8 per cent stake in National Stock Exchange (NSE), according to the PTI report.

The shares would be sold during the proposed mega public offer of the NSE.

IFCI has offered to offload 25 per cent of its 3.05 per cent stake in the exchange, that is 3,43,188 equity shares (pre-split) through IPO of NSE, the company said in a regulatory filing to stock exchanges.

NSE earlier filed draft papers with market regulator Sebi for its much-awaited IPO, expected to be one of the biggest in recent times with an estimated size of over Rs 10,000 crore.

The initial public offer would see sale of a little over 11 crore equity scrips -- which is 22.5 per cent of total shares outstanding -- by existing shareholders through the OFS route, according to the Draft Red Herring Prospectus (DRHP).

Of the total shares on offer, around 15.8 per cent stake would be tendered by foreign shareholders, and 6.7 per cent by domestic entities.

The offer may give the exchange a valuation of Rs 50,000-55,000 crore, media report said, adding that the IPO itself could be worth about Rs 10,000 crore.

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