NEW DELHI, (AP) – The New York Stock Exchange and three other overseas investors have signed an agreement to collectively buy a 20 percent stake in India’s National Stock Exchange, the exchanges said Wednesday.

The New York Stock Exchange Group Inc., investment banker Goldman Sachs, private equity firm General Atlantic and Japan’s Softbank Asian Infrastructure Fund will buy a 5 percent stake each from a consortium of Indian shareholders, the National Stock Exchange said in a statement.

The statement didn’t disclose financial details of the deal, but the NYSE said in a statement from New York that it was paying $115 million for its part.

The deal follows a recent decision by the Indian government to allow foreign investment in stock exchanges.

“Our investment in India’s National Stock Exchange (NSE) compliments our global growth strategy,” NYSE Chief Executive John A. Thain said in the statement. “Through a mutually beneficial partnership, the NSE and NYSE Group, and the future NYSE Euronext, will extend our global reach.”

NYSE Group is in the process of acquiring Euronext NV, attempting to create a global financial exchange group. Its proposed investment in the NSE is of significant strategic importance for the Indian stock exchanges and capital markets, the statement said.

Ravi Narain, chief executive of the Indian exchange, called it a “timely partnership” that “marks a significant milestone for NSE in developing a place for itself in the emerging global scenario.”

The consortium of sellers comprise five Indian financial institutions: ICICI Bank Limited, Industrial Finance Corporation of India Limited, Punjab National Bank, Infrastructure Leasing & Financial Services Ltd. and General Insurance Corporation of India.