While State Bank of India (SBI) and a string of public-sector insurers race to cash in decades-old National Stock Exchange (NSE) holdings at hefty profits, some of India’s most closely watched individual investors are doing the opposite, not selling a single share in the IPO, which is entirely an offer for sale.
Topping that list is Radhakishan Damani, whose roughly 3.9 crore NSE shares (39,084,400 shares, or a 1.58% stake) are sitting out the exchange’s blockbuster initial public offering. At current unlisted market prices, the holding is worth close to Rs 8,032 crore, by far the largest individual stake among shareholders choosing not to sell.
