India's NSE plans $55B IPO, shareholders to sell 6%
The National Stock Exchange of India (NSE), already the world's busiest derivatives exchange, is gearing up for a massive IPO that could value it at $55 billion.
Existing shareholders plan to sell about 6% of the company, 148.9 million shares, priced between ₹2,000 and ₹2,100 each.
If all goes as planned, the IPO launches in the second half of September.
NSE roadshow continues amid 3-week delay
NSE has been pitching its big plans to major investors in cities like Boston, New York, London, and Singapore (with Middle East meetings still on the cards).
The IPO was pushed back about three weeks due to changes to the list of selling shareholders with the addition of SBI Capital Markets Ltd.
If NSE hits its target valuation, it will become the sixth-largest stock exchange operator globally, right between London Stock Exchange Group and Nasdaq.