ICICI Bank to offload 7 per cent stake in NCDEX for Rs507/share
Mumbai: ICICI Bank is selling its 7 per cent stake in the National Commodity & Derivatives Exchange (NCDEX), for Rs507 per share for a total of Rs106.4 crore to Goldman Sachs (Mauritius).

With this sell-off, ICICI Bank's stake in the exchange will come down to 8 per cent, thus leaving Life Insurance Corporation of India, National Bank for Agriculture and Rural Development and National Stock Exchange of India as the largest stakeholders with 15 per cent each. NCDEX's total equity is valued at Rs1,520 crore.

Recently Financial Technologies India had sold its 9 per cent stake in Multi Commodity Exchange (MCX) to Fidelity International at over Rs650 a share early this year.

The deal fetched Rs220 crore ($49 million) to the exchange. FTIL still holds a majority stake in MCX.
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