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IFCI Sells Rs 88.9 Crore Worth of NSE Shares

After divesting the agreed upon 2.5 percent, the company will hold 3.05 percent of the NSE

Mahima Kapoor
Pedestrians Walk in Front of the National Stock Exchange Building in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

Industrial Finance Corporation of India Ltd. (IFCI) sold Rs 88.9 crore worth of National Stock Exchange (NSE) shares at Rs 3,950 per share, the state-owned lender said in a filing to the Bombay Stock Exchange (BSE).

The sale of 2.25 lakh shares was part of the 2.5 percent divestment approved by the company’s board of directors in April 2014.

According to the BSE filing, the board of IFCI has decided to withhold the sale of the remaining 3.05 percent stake in NSE as decided on May 3, 2016.

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