NSE Targets Up To ₹5.26 Lakh Crore Valuation For IPO; Listing Likely In September
The National Stock Exchange of India (NSE) is targeting a valuation of as much as Rs 5.26 lakh crore ($55 billion) through its proposed initial public offering, potentially making it one of India's biggest stock market listings, Bloomberg reported. According to the report, people familiar with the matter said NSE has been discussing a price band of Rs 2,000-Rs 2,100 per share with prospective…
The National Stock Exchange of India (NSE) is aiming for a valuation of up to Rs 5.26 lakh crore ($55 billion) in its proposed initial public offering (IPO), which could make it one of India's biggest stock market listings, according to Bloomberg. The exchange has discussed a price band of Rs 2,000-Rs 2,100 per share with potential investors.
NSE has completed most of its international roadshow, with meetings in various global financial hubs. Around 120 large global investors took part, including BlackRock, Capital Group, and Janus Henderson Group. The IPO will be an offer for sale, allowing existing shareholders to sell their holdings instead of the company issuing new shares.
If the upper end of the valuation range is reached, NSE's market value would be around $55 billion, ranking it among the world's most valuable exchange operators. The IPO timeline has been delayed by approximately three weeks due to changes in the list of selling shareholders, with the listing expected in late September. NSE has enlisted 20 investment banks, such as Kotak Mahindra Capital and Morgan Stanley, to manage the offering.
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