NSE IPO Expected to Launch on September 18 and List on September 25, Reports Indicate a Rs 30,000 Crore Offering
The National Stock Exchange (NSE) is set to launch its initial public offering (IPO) valued at nearly Rs 30,000 crore, with public subscription expected to open on September 18 and close on September 22. The listing is anticipated on September 25. The price band for the IPO will be announced on September 15, followed by the anchor book on September 17, according to sources.
Offer Structure
The NSE IPO will consist of an offer for sale (OFS) of up to 148.9 million equity shares, representing approximately 6% of its paid-up equity capital. There will be no fresh issue of shares, meaning the NSE will not receive any proceeds from the IPO. Existing shareholders will offer nearly 15 crore shares in the issue, with the price band to be disclosed prior to the IPO’s opening.
Major Sellers
The SBI group is the largest seller in the NSE IPO, offering nearly 1.6 crore shares, while its subsidiary, SBI Capital Markets, is offloading 87.8 lakh shares. Other significant sellers include MS Strategic (Mauritius), which is selling 1.6 crore shares, and Canada Pension Plan Investment Board, offering nearly 1.2 crore shares. Additional sellers include Aranda Investments (Mauritius) and Bank of Baroda, both offloading about 1.1 crore shares.
Regulatory Background
NSE has been planning its public listing for over a decade but faced various regulatory challenges and court cases. These included allegations of preferential treatment related to derivatives trading data. In July, the Securities and Exchange Board of India (SEBI) settled these cases for Rs 1,491 crore, allowing NSE to move forward with its IPO plans.
Potential Record
If the IPO is launched at around Rs 30,000 crore, it would surpass Hyundai Motor India’s Rs 27,870-crore IPO, making it India’s largest IPO to date. NSE shares are currently trading in the unofficial market at approximately Rs 1,950-2,050, which would value the exchange at around Rs 4.8 lakh crore, or about $51 billion.
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