Mumbai, September 4 (Daily Kiran) : The Securities and Exchange Board of India (SEBI) has issued an observation letter for the National Stock Exchange’s (NSE) initial public offering (IPO) valued at approximately ₹30,000 crore. This development indicates that the exchange is now in the final stages of preparing for the IPO, which will require the submission of the Red Herring Prospectus (RHP) to SEBI before it can proceed to market.
The NSE’s IPO will be an offer for sale (OFS), meaning that no funds will be raised for the company itself. The offering will consist of around 14.89 crore equity shares, representing about 6 percent of NSE’s total paid-up capital.
According to reports, major stakeholders planning to sell shares in this IPO include the SBI Group, which will offer approximately 2.475 crore shares, followed by MS Strategic (Mauritius) Limited with 1.60 crore shares, and the Canada Pension Plan Investment Board (CPPIB) with 1.19 crore shares. Other contributors include Aranda Investments (Mauritius) Private Limited with 1.12 crore shares, Bank of Baroda with about 1.10 crore shares, and Stock Holding Corporation of India Limited with approximately 1.09 crore shares. Several government insurance companies are also expected to participate in the share sale.
The NSE’s shares are set to be listed on the Bombay Stock Exchange (BSE). Earlier this month, BSE’s Managing Director and CEO, Sundararaman Ramamurthy, confirmed that the NSE will not seek permission to trade on its own exchange after the listing. This clarification followed earlier reports suggesting that the NSE might operate under the “Permitted-to-Trade” (PTT) category on its platform.
Ramamurthy noted that the NSE has assured that no supplementary documents for self-trading will be issued alongside the offer document. He also recalled that BSE had requested permission to trade on its own platform back in 2017 but was denied that request.
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