NSE may cut IPO size to Rs 25,000 crore from Rs 30,000 crore
The National Stock Exchange is considering reducing its initial public offering size. The proposed share sale could now amount to around ₹24,000-25,000 crore. NSE aims to launch the IPO in the third week of September. This move would retain Hyundai Motor India's largest IPO tag. The exchange received Sebi's consent to proceed with the IPO.
The National Stock Exchange (NSE) is contemplating reducing the size of its upcoming initial public offering (IPO) from ₹30,000 crore to around ₹24,000-25,000 crore, according to sources familiar with the matter. This potential reduction would see the proposed share sale by existing stakeholders fall to approximately 5% of the exchange's paid-up capital, down from the previously planned 6%.
The price band for the shares is expected to be around ₹1,750. If the IPO size is cut, Hyundai Motor India's recent ₹27,870-crore IPO would remain the largest in India until Jio Platforms launches its proposed issue. NSE aims to launch the IPO in the third week of September, with listing in the fourth week, and will avoid the Pitru Paksha period when many investors traditionally refrain from new launches.
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