Morgan Stanley, Citi and Actis invest in National Stock Exchange of India

Source: 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.

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