JOIN USNorwest Venture Partners (NVP) and IL&FS Securities Services Limited (ISSL) have announced on Wednesday that NVP has signed a definitive agreement to acquire 2.11 per cent equity in the Mumbai-based National Stock Exchange of India Limited (NSE).
NVP, a global multi-stage investment firm, will purchase the shares of NSE for approximately Rs 250 crores in cash from the selling shareholder, ISSL, valuing the exchange at over Rs 12,000 Crores.
The valuation accorded to the NSE reflects its standing in global markets. While exchange valuations have dropped dramatically in all developed markets, the NSE remains well regarded in terms of quality of operations, management and secular growth. This transaction has been approved by the NSE Board of Directors, and is expected to close within the next week.