SBI, SBI Capital To Dilute 1% In NSE's Rs 30,000 crore IPO
Currently, SBI holds 3.23 per cent in NSE while SBI Capital Markets holds 4.33 per cent
Mumbai: The country’s largest lender State Bank of India (SBI) Chairman C S Setty has said the lender and its investment banking arm, SBI Capital Markets Ltd together plan to dilute up to one per cent stake in the National Stock Exchange (NSE) through the exchange's proposed Rs 30,000-crore initial public offering (IPO).
"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 one percent as a SBI group... it could be less depending on any other shareholders joining," C S Setty told PTI in an interview.
Currently, SBI holds 3.23 per cent in NSE while SBI Capital Markets holds 4.33 per cent. Setty clarified that the bank has no immediate monetisation plans for its other subsidiaries.
