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New Vernon Private Equity has picked up 5 per cent stake in Delhi Stock Exchange for Rs 10.61 crore ($2.5 million). It's a tiny deal compared to General Atlantic and SAIF Partner's investment of $115 million each in National Stock Exchange. Delhi Stock Exchange is valued at Rs 212 crore ($52 million), while National Stock Exchange was valued at $2.3 billion.

Interestingly, New Vernon missed out on deals like NSE and BSE and even Calcutta Stock Exchange, while it chose to get into DSE which is almost non-functional.

The government has also approved the proposal of Passport Global Master Fund SPC Ltd. (British Virgin Islands) to pick up 5 per cent stake in Delhi Stock Exchange for Rs 10.61 crore.

Last fortnight, the government had approved the proposals of four foreign investors to pick up stake in DSE. Mauritius-based Wilmette Holdings, Kuwait-based Noor Financial Investment Company, Kuwait Privatisation Projects Holding and Ikarus Industrial Petroleum Company of Kuwait acquired 5 per cent stake each for Rs 10.61 crore.

The government had rejected the proposal of Passport Investments, Mauritius, to invest in DSE then. However, it has accepted the proposal of Passport's British Virgin Islands entity.

Related:

Delhi Stock Exchange Valued At Rs 212 Crore; 4 Investors Get Nod, Passport's Proposal Rejected