IFCI Updates on NSE stake sale to institutional investors

With reference to the earlier announcement dated January 11, 2007, April 02, 2007 & April 04, 2007 regarding sale of 31,50,000 equity shares (constituting 7% holding) of National Stock Exchange of India Ltd IFCI Ltd has announced that the Company has signed an agreement on January 10, 2007 to offload 7% equity to four institutional investors viz. Goldman Sachs, NYSE, General Atlantic and Soft Bank. The formalities and other necessary documentation were completed on March 31, 2007 in respect of said sale. The sale proceeds for 23,62,500 equity shares were received on April 04, 2007 from three institutional investors viz. Goldman Sachs, NYSE & General Atlantic constituting 5.25% of the Paid-up capital of NSE.

The balance sale proceeds for 787,500 equity shares constituting 1.75% of Paid-up capital of NSE has been received on April 09, 2007 from Soft Bank.

Source : Equity Bulls

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