IDBI Bank pares stake in National Stock Exchange

State-owned IDBI Bank today said it has sold 2 per cent stake in National Stock Exchange to country's largest insurer LIC.

The bank has sold 9 lakh equity shares constituting 2 per cent of the paid-up capital of the National Stock Exchange to LIC on March 30, IDBI Bank said in a statement.

However, the bank did not disclose the deal value.

With this, the stake of IDBI Bank in NSE has come down to 3 per cent from 5 per cent earlier.

Last year, another public sector lender IFCI had sold a 1.5 per cent stake in NSE for Rs 263.25 crore at a price of Rs 3,900 per share.

NSE's other major shareholders include LIC (12.51 per cent), SBI (10.19 per cent), Stock Holding Corporation of India (5 per cent), IDFC (3.90 per cent) and many investment firms.