NSE IPO offer size cut by 15% as eight shareholders trim stake sales
The National Stock Exchange of India reduced its IPO sell-off offer from 14.89 crore to 12.64 crore shares due to withdrawals and reductions by eight institutional sellers.
The National Stock Exchange of India (NSE) has cut the size of its proposed initial public offering offer for sale (OFS) by approximately 15%. The total number of shares available for sale dropped from 14.89 crore to 12.64 crore, representing a reduction of 2.25 crore units. This adjustment resulted exclusively from eight selling shareholders who scaled back their proposed contributions. Among the participating entities, MS Strategic (Mauritius) reduced its contribution by 0.50 crore shares, while Stock Holding Corporation of India decreased its offer by 0.47 crore shares. General Insurance Corporation of India lowered its stake by 0.45 crore shares, followed by Bank of Baroda with a cut of 0.33 crore shares and National Insurance Company reducing it by 0.20 crore shares. Mahagony Limited also decreased its sale by 0.20 crore shares, and Indian Bank reduced its offer by 0.10 crore shares. Individual shareholder Amit Kumar Lohia withdrew from the OFS entirely, contributing to the reduction of 25,000 shares. The IPO was valued at Rs 22,561 crore and was scheduled to open on September 17 with a price band of Rs 1,700 to Rs 1,785.
