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NSE Wins Final Approval After Decade-Long Wait for IPO
The National Stock Exchange has received permission to move ahead with an IPO.
An IPO is when a company’s shares are offered to public investors.
NSE first applied to do this nearly ten years ago.
In this offering, existing shareholders will sell some of their shares.
NSE itself will not receive the money from those sales.
The shares being sold could be worth about Rs 29,400-30,500 crore at recent unlisted-market prices.
State Bank of India will be the largest seller.
NSE also reported strong profits and revenue in the first quarter of FY27.
The National Stock Exchange received final regulatory approval Friday, nearly a decade after applying for its IPO.
The IPO will be entirely an offer for sale, with 10 shareholders selling 148.905 million shares, or about 6% of NSE.
State Bank of India will sell the largest stake, while Life Insurance Corporation of India will not participate.
At recent unlisted-market prices, the offering could be worth approximately Rs 29,400-30,500 crore.
NSE reported a first-quarter FY27 net profit of Rs 3,122 crore, up 11% year-on-year, and operating revenue of Rs 4,560 crore.
- Who
- The National Stock Exchange and 10 existing shareholders, including State Bank of India and several insurers.
- What
- NSE received final regulatory approval for an IPO that will consist entirely of an offer for sale.
- Where
- India’s capital market; the shares were referenced at prices in the unlisted market.
- When
- The approval was received on Friday, nearly a decade after NSE first applied.
- Why
- The approval clears the way for NSE to proceed toward a public listing and allows participating shareholders to sell shares.
Key facts
- Shares offered
- 148.905 million shares
- Offer size
- About 6% of NSE’s 2,475 million outstanding shares
- Largest seller
- State Bank of India, offering 24.75 million shares, or 1% of NSE’s equity
- Largest shareholder not selling
- Life Insurance Corporation of India, which owns 10.72% of NSE
- Estimated offer value
- Approximately Rs 29,400-30,500 crore at recent unlisted-market prices
- First-quarter FY27 profit
- Rs 3,122 crore, up 11% year-on-year
- First-quarter FY27 operating revenue
- Rs 4,560 crore, up 13%
Sources
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