NSE lowers IPO price range to Rs 1,700-1,785 and reduces stake to 5.5%
The National Stock Exchange of India is revising its initial public offering details, dropping the price per share from an earlier target of Rs 2,000 to Rs 2,100.
Sources indicate the National Stock Exchange of India Ltd. will set its new IPO price between Rs 1,700 and Rs 1,785 per share. This adjustment comes down from a previously marketed range of Rs 2,000 to Rs 2,100. People familiar with the situation report that shareholders pulling back at lower prices contributed to this decision. The exchange may also shrink its offering stake from the originally planned 6% to approximately 5.5%. At this revised top price and stake size, the company would be valued at roughly Rs 4.42 trillion, or $46.6 billion. This is a reduction from the earlier target valuation of Rs 5.26 trillion. The 5.5% stake sale would raise about Rs 243 billion. NSE plans to announce the price range and open subscriptions starting September 14. A representative for the exchange has not yet responded to requests for comment.
