NSE slashes IPO size to Rs 23,500 crore in revised Sebi filing
The National Stock Exchange has updated its draft prospectus with Sebi, slashing its initial public offering size to about twenty-two thousand five hundred crore rupees. Existing shareholders will see their offer for sale drop to five point two five percent of the paid-up capital. Anticipating a launch in the third week of September, this adjustment may enable Hyundai Motor India to maintain its…
Mumbai: The National Stock Exchange (NSE) has reduced its planned IPO size to approximately ₹22,500-23,500 crore in a revised filing with the Securities and Exchange Board of India (Sebi), according to sources. This decrease comes after earlier plans of a ₹30,000 crore offering. The offer for sale (OFS) by existing shareholders is now projected to be around 5.25% of the exchange's paid-up capital, down from the previously planned 6%.
The number of shares available for sale has been trimmed to 12.64 crore from the earlier figure of 14.89 crore. NSE has not yet responded to a request for comment. The exchange aims to launch the shares in the third week of September, with listing expected in the fourth week. The issue is anticipated to open for anchor investors on September 17.
With the revised issue size, NSE's IPO will no longer be India's largest, as it surpasses Hyundai Motor India's ₹27,870-crore offering from October 2024. If Jio Platforms proceeds with its planned ₹37,000-crore IPO around Navratri-Diwali, it could reclaim the title.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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