IFCI Updates on NSE stake sale to Goldman Sachs

IFCI Ltd has announced that the Company was holding 12.44% equity shares of National Stock Exchange of India Ltd (NSE). The Company agreed to sell 31,50,000 equity shares (constituting 7% holding) to four institutional investors viz. Goldman Sachs, NYSE, General Atlantic and Soft Bank, on January 10, 2007, when an agreement was signed in this regard.

The formalities and other necessary documentation have been completed on March 31, 2007 in respect of said sale.

Shares of the company were trading at Rs.31.50, down by Rs.2.10 or 6.25% on volume of 11964591 shares.

Source : Equity Bulls

Keywords