NSE files $2 billion offer-for-sale IPO with SEBI after delay
Business
The National Stock Exchange of India (NSE) just filed papers with SEBI to launch its long-awaited $2 billion IPO.
This move comes nearly a decade after its first attempt got delayed by regulatory hurdles.
The entire offering is an "offer-for-sale," meaning up to 14.89 crore shares will be sold by existing investors (no new shares are being created).
Selling shareholders receive IPO proceeds
Big names like Tiger Global (the largest seller with over 13% of the issue), IDBI Bank, SBI, and others are offloading their stakes.
All the money raised goes straight to these shareholders, not NSE itself.