NSE said to seek up to $55 billion valuation in record India IPO
The exchange has marketed its shares at ₹2,000 to ₹2,100 apiece during meetings with potential investors
The National Stock Exchange of India (NSE) is aiming for a valuation of up to $55 billion in its highly anticipated initial public offering (IPO), according to sources familiar with the matter. This would make the exchange the sixth-largest in terms of market value globally, trailing only CME Group Inc. and Nasdaq Inc. in the ranking.
The IPO, which will be composed solely of secondary share sales, involves existing shareholders selling approximately 148.9 million shares, or about 6% of the company. NSE has been meeting with potential investors across various global locations, including Boston, New York, San Francisco, London, Singapore, and Hong Kong, with meetings involving around 120 large global investors.
The IPO's approval from the Securities and Exchange Board of India (SEBI) was initially expected by early August, but a three-week delay has been experienced due to changes in the list of selling shareholders. Deliberations surrounding the offering, including size, valuation, and timing, are still ongoing, and the details could still change.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
