State-run Bank of Baroda (BoB) plans to auction part of its stake in the National Stock Exchange of India (NSE) for at least INR 661 crore (USD 91 million), according to a request for proposal. The bank has invited bids from eligible entities, including insurance companies, mutual funds and non-resident Indians. Bank of Baroda has set a floor price that values the NSE at INR 1.56tn, well above rival Bombay Stock Exchange, which is valued at INR 77.9bn. The auction comes as various foreign investors have sold holdings in the NSE, while retail investors have raised their combined stake to 7.37% in the March quarter from the previous period’s 6.7%.
BoB Plans to Sell Part of Its Stake in NSE for Over ₹661 Crore
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