NSE IPO valuation cuts to Rs 4.42 trillion as shares reduced by 15 percent
The National Stock Exchange of India lowered its IPO size by more than 15 per cent, fixing the price band at Rs 1,700 to Rs 1,785 per share and valuing the exchange at approximately Rs 4.42 trillion.
The National Stock Exchange of India reduced the scale of its upcoming initial public offering by more than 15 per cent after existing shareholders lowered their planned sales. The draft prospectus dated September 10 established a new price band of Rs 1,700 to Rs 1,785 per share, which values the exchange at roughly Rs 4.42 trillion. This represents a reduction from the original plan where the offer comprised about 148.91 million shares valued potentially at Rs 5.26 trillion. The revised structure involves an offer for sale only, meaning NSE will not issue new shares and will not receive proceeds. Major shareholders, including the State Bank of India, cut their proposed selling amounts significantly. Concerns among prospective investors regarding growth rates and regulatory changes in derivatives have influenced these decisions.
