Why India’s biggest stock exchange is going public
The National Stock Exchange’s Sep 24 debut marks the South Asian country’s second-biggest IPO ever
India's leading stock exchange, the National Stock Exchange (NSE), is set to go public on September 24, 2023. The exchange's initial public offering (IPO) raised over five times the available shares, with a price of 1,785 rupees each. The IPO was the second-largest in India’s history, valued at around 4.4 trillion rupees (US$46 billion), placing NSE among the world’s most valuable exchange operators.
Despite the IPO not raising capital for the exchange itself, the listing will offer existing shareholders a more liquid and transparent market for trading their shares. NSE's revenue primarily comes from transaction fees on stocks, derivatives, currencies, and debt, as well as listing fees, market-data subscriptions, and index licensing.
The exchange has benefited from the rapid expansion of India's capital markets and the arrival of millions of retail investors in recent years. However, regulatory changes aimed at curbing excessive speculation in equity derivatives could impact NSE's future growth, as trading volumes may decline.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
