SBI to offer 40 lakh shares in the IPO of NSDL

State Bank of India proposes to participate in an Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL) by way of offer for sale of up to 2% equity stake held by the Bank in NSDL (being up to 40,00,000 equity shares).

NSDL is incorporated to carry on, regulate and manage the business of providing depository and clearing and settlement services in respect of securities and instruments of all kinds. NSDL has three operating segments: depository, database management services and banking services.

The divestment through the IPO by way of an offer for sale of up to 2% equity stake is subject to the terms of the proposed IPO, and subject to such flexibility on pricing, timing and other IPO considerations, as may be permitted under applicable law.

Shares of State Bank of India was last trading in BSE at Rs. 592.50 as compared to the previous close of Rs. 593.75. The total number of shares traded during the day was 826561 in over 19220 trades.

The stock hit an intraday high of Rs. 599.80 and intraday low of 590.25. The net turnover during the day was Rs. 492037184.00.

Source : Equity Bulls

Keywords

StateBankofIndia INE062A01020 SBIN IPO OFS NSDL StakeSale