NSE cuts IPO valuation to $47bn amid investor regulatory concerns
Business
The National Stock Exchange of India (NSE) has trimmed its IPO valuation from $55 billion to $47 billion, following concerns from global investors about its growth and tougher regulations.
Even with the drop, NSE's value still tops the world's biggest exchanges, but investors in places like Hong Kong and New York are worried stricter rules could slow down trading.
NSE seeks $2.6bn from IPO
NSE plans to price shares between ₹1,700 and ₹1,785, aiming for a total raise of up to $2.6 billion.
The share sale will now cover about 5.5% of NSE's equity, slightly less than earlier plans.
Despite some hesitation over regulatory scrutiny and tighter trading rules, over 120 global funds (including BlackRock and GQG Partners) showed strong interest during global road shows.