SBI to sell 2 pc stake in IPO-bound NSDL
SBI to sell 2 pc stake in IPO-bound NSDL State Bank of India (SBI) on Monday said it proposes to sell 2 per cent stake by offloading 40 lakh shares in depository organisation NSDL.The bank intends to participate in an Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL), SBI said in a regulatory filing. SBI holds 5 per cent stake in the NSDL while it intends to divest 2 per cent in the Offer For Sale (OFS) subject to the terms of the proposed IPO, it said.NSDL is a depository set-up to carry on, regulate and manage the business of providing depository and clearing and settlement services in respect of securities and instruments of all kinds.
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“If demand goes up very strongly, if the Chinese economy rebounds, then there will be a need, in my view, for the OPEC+ countries to look at their (output) policies,” Birol told Reuters on the sidelines of a conference in India.Price caps on Russian products took effect on Sunday, with the Group of Seven (G7), the European Union and Australia agreeing on caps of $100 per barrel on diesel and other products that trade at a premium to crude, and $45 per barrel for products that trade at a discount, such as fuel oil.
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