1 week ago
NSE IPO Awaits SBI Share Allocation Before SEBI Review
The National Stock Exchange wants to sell shares to the public through an IPO.
State Bank of India was originally listed as a seller of some of those shares.
Now, SBI Capital Markets will also sell part of them.
SBI will sell up to 15.97 million shares, and SBI Capital Markets will sell up to 8.78 million.
The total IPO size will not change.
The two companies must first complete the transfer and allocation of the shares.
NSE has added the revised information to its draft IPO document.
SEBI will review the IPO and issue its observations after the details are formally completed.
SEBI observations on NSE’s proposed IPO are pending completion of a share allocation process.
SBI Capital Markets has joined State Bank of India as a selling shareholder.
SBI will sell up to 15.97 million NSE shares, while SBICAPS will sell up to 8.78 million.
The overall size of the NSE IPO remains unchanged under the revised arrangement.
The allocation details must be incorporated into the DRHP before SEBI can process the application further.
- Who
- The National Stock Exchange, State Bank of India, SBI Capital Markets, and SEBI.
- What
- A revised allocation of NSE IPO shares between SBI and SBI Capital Markets is delaying SEBI’s observations.
- Where
- Mumbai.
- When
- The article does not specify a date.
- Why
- The share transfer and revised selling-shareholder details must be completed and incorporated into the DRHP before SEBI can process the IPO application further.
Key facts
- IPO company
- National Stock Exchange
- Regulator
- Securities and Exchange Board of India
- Revised selling shareholders
- State Bank of India and SBI Capital Markets
- SBI shares offered
- Up to 15.97 million NSE shares
- SBICAPS shares offered
- Up to 8.78 million NSE shares
- Overall IPO size
- Unchanged
- Required document
- NSE’s draft red herring prospectus, updated through an addendum
Sources
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