PSU banks to sell 11 pc stake in NSE
Mumbai: A consortium of five shareholders led by State Bank of India is planning to sell an 11 per cent stake in the National Stock Exchange.

The other stakeholders are Indian Overseas Bank, Union Bank of India, Corporation Bank and IDBI.

The banks have mandated a leading investment bank to find buyers for a combined stake sale that fetched better valuations, sources close to the development said.

The sudden interest in NSE from foreign players comes after the Reserve Bank of India allowed foreign investment of up to 49 per cent in stock exchanges, fixing the foreign direct investment cap at 26 per cent and foreign institutional investor limit at 23 per cent.

Rules stipulate that no single entity can hold more than 5 per cent in a stock exchange.
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Genpact plans India's largest IPO in US
Mumbai: Genpact, India's largest BPO company, has finalised IPO plans for the US markets and plans to raise between $500-$600 million. This will be the largest IPO by an Indian company in the US.

Genpact board is said to have approved the issue and merchant bankers Morgan Stanley and Goldman Sachs have been appointed for the issue.

Genpact is owned by General Atlantic Partners and Oakhill Capital, who jointly control 60 pc of the equity of the company. The remaining 40 pc is owned by GE.
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