The selling shareholders largely comprised institutional investors, who collectively held a 36.82 per cent stake in NSE before the IPO and tendered shares representing a 5.11 per cent stake in the exchange, according to an analysis of data
New Delhi: A majority of the existing shareholders of the National Stock Exchange of India (NSE), led by Life Insurance Corporation(LIC),have retained a significant portion of their holdings even after tendering shares in the offer-for-sale (OFS) component of the exchange’s Rs 22,569-crore initial public offering (IPO).
The selling shareholders largely comprised institutional investors, who collectively held a 36.82 per cent stake in NSE before the IPO and tendered shares representing a 5.11 per cent stake in the exchange, according to an analysis of data.
Of the 20 institutional shareholders that participated in the OFS, nine were foreign institutional investors, which collectively held a 15.96 per cent stake before the IPO, it added.
The remaining 11 were domestic institutions, comprising 10 public sector entities and ICICI Lombard General Insurance, which together held a 20.86 per cent stake before the OFS.
Several large institutional shareholders have largely stayed put despite participating in the OFS.
Aranda Investments, which held a 4.54 per cent stake before the OFS, Stock Holding Corporation of India with a 4.44 per cent stake, SBI Capital Markets with 4.33 per cent and ChrysCapital with 3.73 per cent have reduced their holdings by an average of only around 7 per cent.
Among other large foreign investors, Crown Capital offered around 11 per cent of its pre-OFS holding, while TA Asia Pacific reduced its holding by about 6 per cent.