45
/
1
Min Read
State Bank of India (SBI) and its subsidiary SBI Capital Markets plan to dilute up to 1% combined stake in the National Stock Exchange (NSE) through the exchange’s proposed INR 30,000-crore IPO. SBI currently holds a 3.23% stake in NSE, while SBI Capital Markets holds 4.33%.
“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,” said C S Setty, Chairman, SBI.
Setty clarified there is no immediate monetisation plan for the bank’s other subsidiaries. Last month, SBI and its foreign partner Amundi diluted around 10% stake in SBI Mutual Fund through a INR 9,800-crore public offer that was subscribed 42 times.
Following that listing, SBI’s holding in the fund house fell to 55.46% from 61.76%, while Amundi’s stake declined to 32.56%.
Separately, Setty said SBI’s mortgage portfolio is set to cross INR 10 lakh crore in the current quarter.
This article was originally
published by the 
