Indian Stock Market: The National Stock Exchange (NSE) is preparing to launch its much-awaited initial public offering (IPO) of around Rs 30,000 crore in September this year. Sources related to the incident gave this information on Monday.
With the arrival of this IPO, the valuation of the country’s largest stock market NSE is expected to exceed Rs 5 lakh crore.
NSE is soon going to launch a promotional campaign to spread awareness regarding the IPO.
If the issue is successful, it can leave behind Hyundai Motor India’s record of Rs 27,870 crore issue set in October 2024.
According to the draft document presented before SEBI, the proposed IPO of NSE will be entirely based on offer for sale (OFS), in which 14.89 crore equity shares will be sold. Through this issue, shareholders will collectively sell about six percent stake. NSE has about 1.8 lakh shareholders.
Among its shareholders, State Bank of India (SBI) will sell around 2.48 crore shares, while MS Strategic (Mauritius) Ltd will sell 1.60 crore shares. Other selling shareholders include Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pvt Ltd, Bank of Baroda, Stock Holding Corporation of India Ltd, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company and United India Insurance Company.
However, Life Insurance Corporation of India (LIC), which holds the largest stake in NSE at 10.72 per cent, will not participate in the issue.
The board of directors of NSE had approved the IPO on February 6 after receiving the no-objection certificate from the Securities and Exchange Board of India (SEBI).
NSE had first filed IPO documents in 2016 to raise around Rs 10,000 crore, but the nod was not granted by SEBI at that time due to concerns over the conduct of business and the co-location issue.