NSE cuts transaction charges by 1%, plans exit from non-core businesses
The National Stock Exchange (NSE) board approved a 1% reduction in transaction charges for cash equity and equity derivatives starting April 1, 2024. This move is expected to impact the company’s annual revenue from transaction charges by approximately Rs. 130 crores.
Additionally, NSE announced its decision to exit non-core businesses, including technology and education. The divestment process attracted interest from over 60 parties, with 7 submitting non-binding bids. Following due diligence, final offers were received from 2 buyers, and the highest bidder entered into exclusive negotiations. Avendus served as the transaction adviser, supported by Deloitte for Finance & Tax diligence, Deloitte as the tax adviser, and Indus Law as the legal adviser, it said. The expected date is 31 Mar 2024 for completion of sale.
