NSE filed draft prospectus for $3 billion secondary IPO
The National Stock Exchange of India (NSE) is gearing up to launch its massive $3 billion IPO, starting with investor roadshows next week across the US as well as in London, Singapore, Hong Kong, and more.
The exchange filed its draft prospectus last month.
This IPO is all about existing shareholders selling their stakes, not raising new money for the company.
NSE plans about 6% stake sale
NSE plans to sell nearly 148.9 million shares, about 6% of the company.
With a gray market valuation topping ₹5.25 trillion ($55.1 billion), this offering could even beat Hyundai Motor India's record-breaking 2024 IPO.
Around 20 big banks are on board to help make it happen.
The final size and timing are still being discussed, but if all goes well, NSE could set a new benchmark for Indian stock market debuts.