January 11, 2007	Thursday	Zilhaj 20, 1427

NEW DELHI, Jan 10: The New York Stock Exchange and investment bank Goldman Sachs are among investors, who plan to buy an unspecified stake in India's National Stock Exchange, a report said on Wednesday.

The Economic Times business daily said that two Indian financial firms, ILandFS and IFCI, plan to sell to overseas investors part of their stakes in the bourse, the country's largest, “soon.” The two lenders for large projects each hold a 7.1pc stake. The newspaper said the exchange is valued at more than $2 billion.

The National Stock Exchange was unavailable for comment.

The report follows a decision by the Reserve Bank of India to cap overseas investment in stock exchanges at 49 per cent with direct ownership limited to 26 per cent and funds that invest through listed shares at 23 per cent.

The rival Bombay Stock Exchange (BSE) in Mumbai, Asia's oldest exchange, has also been approached by overseas investors, according to reports.

Singapore Exchange (SGX) said on Tuesday it was in “preliminary discussions” with India's Bombay Stock Exchange to explore possible working opportunities.

But the exchange declined to comment on a report in India's Business Standard at the weekend that the Singapore market, along with the London Stock Exchange, New York Stock Exchange and others, was a potential investor in a 26 per cent stake in the Mumbai stock exchange.—AFP