IIFL Finance, a non-banking financial company (NBFC), intends to sell its stock in the National Stock Exchange (NSE). According to an exchange filing, the business has been given permission by the NSE to sell equity shares through the secondary market for a maximum value of Rs 84.7 crore.
IIFL Finance would control 0.146 percent of NSE following the disposal.Months have passed since it paid Rs 284.4 crore to acquire a 0.18 percent share in the stock market.
FIH Mauritius Investments sold a portion of its shares in NSE to IIFL Finance in April. It had made clear that, notwithstanding FIH's relationship to the agreement, it was conducted at arm's length and that the investment was made only for long- or short-term gains with no management oversight.
The leading exchange is seeking clearance from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) before listing its shares.
Following its financial results earlier in May, NSE declared a dividend of Rs 90 per share and a four-for-one bonus issue. The NSE's shares were trading at Rs 6200 per share, up from Rs 4800 per share at the end of March, according to Unlisted Zone.
