Singapore state investment company Temasek Holdings Ltd. has bought a 5% stake in India's National Stock Exchange from NYSE Group Inc. (NYX) for more than US$150 million, people familiar with the situation said Monday.

"NYSE sold out the stake directly to Temasek," one of those people told Dow Jones Newswires.

Another person said the transaction had all necessary regulatory approvals.

"Temasek continues to focus on investments in India and believes in its long-term potential. We see our investment in NSE as a good proxy to India's economic growth and the development of its capital markets," Manish Kejriwal, senior managing director of Temasek, said in a statement.

NSE Managing Director Ravi Narain said, "Temasek is a well-respected investor, and we welcome them as a shareholder."

-By P.R. Venkat and Costas Paris, Dow Jones Newswires; +65 64154 152; venkat.pr@dowjones.com
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