NSE and SBI Mutual Fund IPOs to raise ₹5,400cr taxes
Big news for the government's wallet: the upcoming IPOs from NSE and SBI Mutual Fund are set to bring in around ₹5,400 crore in taxes.
Since both are "offers for sale," shareholders cashing out will pay a 12.5% long-term capital gains tax.
The NSE IPO alone could add nearly ₹3,800 crore to this total.
IPO shareholders to net ₹24,600cr
Major players like SBI, MS Strategic (Mauritius), and Canada Pension Plan Investment Board are offloading shares in the NSE IPO (the bourse is expected to command a valuation of over ₹5 lakh crore) with a 6% dilution.
In the SBI Mutual Fund IPO, SBI and Amundi India Holdings will sell more than 20 crore shares.
Altogether, shareholders from these deals stand to pocket about ₹24,600 crore; SBI itself could earn close to ₹4,700 crore just from its NSE stake sale.