India’s NSE seeks valuation of up to $55 bln in planned IPO - Bloomberg

India's National Stock Exchange (NSE) is targeting a valuation of up to $55 billion in its planned initial public offering (IPO), according to Bloomberg News. The exchange plans to market its shares at 2,000 to 2,100 rupees each, making it the largest derivatives exchange globally by trading volume. Bloomberg's report indicates that most of the NSE's global investor roadshow has been completed, with meetings in the Middle East still pending.

Approximately 120 global investors, including prominent institutions such as BlackRock, Capital Group, and GQG Partners, participated in the meetings held across major financial centers. The IPO is now anticipated to launch in the second half of September, following a regulatory approval delay of about three weeks due to changes in the list of selling shareholders.

At the upper end of the marketed price range, NSE would become the sixth-largest exchange operator by market value globally. The IPO will be composed entirely of secondary share sales, with existing shareholders planning to sell up to 148.9 million shares, accounting for about 6% of the company. NSE has enlisted the assistance of 20 banks to oversee the sale process.