SBI Invites Bids to Sell Its 1% Stake in NSE

State-run State Bank of India (SBI) invited bids for selling its 1% stake in the NSE.

"SBI is one of the shareholders of National Stock Exchange of India Ltd (NSEIL) and intends to divest up to 1.0101% (50,00,000 equity shares) of its equity shareholding in the NSEIL through a competitive bidding process," the country's largest lender said in a public notice.

SBI said it is looking to sell 50 lakh shares representing 1.01% stake in the National Stock Exchange (NSE) as part of its capital raising exercise. Currently, SBI holds 5.19% stake in the exchange.

The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format and the last date for submission is January 15, 2020, it said.

In 2016, SBI sold 5% stake in the NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore.