SEBI Approves NSE IPO for Potential September Listing
2 sources across 2 countries · India · United Kingdom
Who reported this
- The Indian Express
- Reuters
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
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The owner of each outlet is listed as a matter of record, not as a judgement about the outlet.
Every outlet covering this story shares the same political lean; read with that in mind.
The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) of the National Stock Exchange (NSE). The estimated Rs 30,000 crore issue could be the largest listing in the history of the country, potentially surpassing the Rs 27,870 crore Hyundai Motor India issue from 2024. Reports indicate the exchange targets a listing in the week starting September 21, with the price band likely to be announced on September 15.
The IPO is structured as an offer for sale (OFS) of 14.89 crore shares, which represents approximately 6 percent of the exchange's stake. Because it is an OFS, the funds raised will go to selling shareholders rather than the company's business operations. Major entities offloading shares include SBI, which will sell up to 2.48 crore shares, as well as MS Strategic (Mauritius), Bank of Baroda, General Insurance Company of India, and the New India Assurance Company.
The NSE currently leads the BSE in terms of liquidity, market share, and revenues, and it stands as the world's most active derivatives exchange by contracts traded. Unlisted market data suggests a valuation of around Rs 5 lakh crore for the exchange. This approval comes after nearly a decade of regulatory hurdles and follows the 2017 public issue of the rival BSE.
How each side framed it
- Centre
- Outlets with a center lean focused on the regulatory timeline, the financial structure of the offer for sale, and the potential record breaking scale of the IPO.
Sources
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