New Delhi, September 15 (H.S.): The much-awaited initial public offering (IPO) of the National Stock Exchange (NSE), India's largest stock exchange, will open for subscription on September 17. Investors can bid for shares until September 21, 2026. The price band for the issue, which has a face value of Rs 1 per share, has been fixed at Rs 1,700-1,785 per share.
The company said at a press conference held in New Delhi on Tuesday that the IPO of the National Stock Exchange will open on September 17 and close on September 21. Anchor investors will be able to place their bids on September 16. The price band for the issue has been fixed at Rs 1,700-1,785 per share.
Addressing the press conference at Hotel Taj Mansingh in New Delhi, NSE Managing Director and Chief Executive Officer (CEO) Ashish Kumar Chauhan said that if India's economy continues to grow at a rate of 6.5-7 per cent in the coming financial year, the stock market, and particularly the Nifty index, will also benefit. Chauhan further said that India's growth trajectory presents a significant opportunity for NSE over the next 30-50 years.
The much-awaited NSE IPO, with a face value of Rs 1 per share and an issue size of Rs 22,569 crore, is entirely an offer for sale (OFS). Investors can bid for a minimum of 35 equity shares and thereafter in multiples of 35 shares. MUFG Intime India Private Limited is the registrar to the issue. The NSE shares are proposed to be listed on the Bombay Stock Exchange (BSE). Following Hyundai Motor India's Rs 27,870-crore issue in 2024, the NSE IPO will be India's second-largest public issue.
According to the company, the Rs 1 face-value IPO is entirely an offer for sale. Existing corporate shareholders are collectively offering 12,64,36,650 shares for sale. The selling shareholders include State Bank of India (SBI), Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pte. Ltd., MS Strategic (Mauritius) Limited, The New India Assurance Company Limited, SBI Capital Markets Limited, Bank of Baroda, Stock Holding Corporation of India Limited, General Insurance Corporation of India Limited and United India Insurance Company Limited.
It is noteworthy that the National Stock Exchange of India (NSE) commenced operations in 1994. It was India's first exchange to introduce electronic, or screen-based, trading. NSE operates an integrated business model encompassing exchange listing, trading services, clearing and settlement, indices and market data. In addition, NSE oversees compliance by trading and clearing members and listed companies with the regulations of the Securities and Exchange Board of India (SEBI) and the rules of the exchange.
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Hindusthan Samachar / Jun Sarkar
