Global funds and private equity reduced NSE holdings in the March quarter

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Mumbai: Leading global funds and private equity firms have reduced their stake in the country's largest stock exchange - the National Stock Exchange (NSE) amid uncertainty over their initial public offering (IPO).

Safe Partners, Acacia Banyan, Ontario and Deccan Value have reduced their investments by up to 24 per cent, according to the latest shareholding data.

Data released by the NSE shows that total shares held by foreign direct investors in the March 2023 quarter fell to 25.71 percent from 27.06 percent in the December 2022 quarter. On the other hand, insurance companies, corporate and retail investors increased their stake in NSE.

The data shows that during March 2023, about Rs. 2,000 crore shares on NSE at Rs. 2,948 were sold on average. In February Rs. 1,230 crore shares worth Rs. 2,982 per share was traded.

Recent share sale transactions valued at around Rs. 1.45 lakh crores. Industry players said some PEs had to offload NSE shares as the holding period of their funds expired.

Although the shares of NSE are not formally listed, they are heavily traded in the unlisted segment. It is expected that the pending legal cases of undue access will be resolved only after the market regulator allows the stock exchange to start its listing process.


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