Morgan Stanley, Citigroup and Actis to invest in the National Stock Exchange of India

The recent policy announced by the Government of India with respect to foreign direct investment (FDI) in the Indian stock exchanges allows a 26% ownership by foreign investors.

Pursuant to that policy, National Stock Exchange is pleased to announce that Morgan Stanley, Citigroup and Actis group have entered into agreements to acquire 3 %, 2% and 1% equity stake respectively in NSE from the following domestic Institutions viz., IDBI (2%), SBI (1.50%), SBI Capital Markets Limited (0.50%), Corporation Bank (0.265%), Union Bank of India(0.125%), Bank of Baroda (0.89%), Canara Bank (0.385%) and Oriental Bank of Commerce (0.335%).

These investments follow the earlier agreements between NYSE Group, General Atlantic, Goldman Sachs and Softbank Asian Infrastructure Fund with five Indian Institutions viz., IFCI, IL&FS, ICICI, PNB and GIC to acquire 5% equity stake each in NSE from these domestic Institutions.

Source : Equity Bulls

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