NSE plans smaller IPO at ₹24,000-25,000cr after SEBI approval
The National Stock Exchange (NSE) is considering reducing its IPO size to about ₹24,000 crore to ₹25,000 crore from ₹30,000 crore, making it roughly 5% of the exchange's paid-up capital instead of about 6% planned earlier.
The plan got SEBI's green light on September 4 and the IPO is expected to launch in the third week of September and list in the fourth week.
NSE targets IPO before September 26
NSE wants to wrap up the IPO before September 26, just ahead of Pitru Paksha, a time when new ventures are usually avoided.
Even with this big launch, NSE won't beat Hyundai Motor India's ₹27,870-crore concluded issue in October 2024 and will soon be outdone by Jio Platforms's massive ₹37,000 crore debut.
State Bank of India and Canada Pension Plan Investment Board are among the shareholders proposing to sell a portion of their stakes in the IPO.
Meanwhile, NSE shares trade at ₹2,045 in unlisted markets; profits grew last quarter even as revenue dipped a bit.