NSE IPO likely to open on Sep 18, list on Sep 25
NSE IPO likely to open on Sep 18, list on Sep 25
The National Stock Exchange is gearing up for its highly anticipated initial public offering, expected to open on September 18 and list on September 25, poised to become India’s largest public offering with an estimated value of Rs 30,000 crore.
Key Points
The National Stock Exchange’s IPO is anticipated to open for public subscription on September 18 and list on September 25.
The IPO is projected to raise approximately Rs 30,000 crore, potentially surpassing Hyundai Motor India’s offering to become India’s largest.
The offering will be an offer for sale (OFS) of up to 148.9 million equity shares, with no fresh issue of shares.
The proposed timeline aims for a debut before the ‘Pitru Paksha’ lunar period begins on September 26.
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The IPO received crucial regulatory clearance from Sebi earlier this month after being in the works for nearly a decade.
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The nearly Rs 30,000-crore initial public offering (IPO) of the National Stock Exchange is likely to open for public subscription on September 18, and list on September 25, sources said on Tuesday.
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The nearly Rs 30,000-crore initial public offering (IPO) of the National Stock Exchange is likely to open for public subscription on September 18, and list on September 25, sources said on Tuesday.
IPO Details and Timeline
The price band for the IPO is expected to be announced on September 15, followed by the anchor book on September 17, they said. The public issue is likely to remain open on September 18, September 21 and September 22.
There is no official announcement on this issue calendar by the bourse.
The issue, which could raise around Rs 30,000 crore, is set to surpass Hyundai Motor India’s Rs 27,870-crore offering in 2024 to become India’s largest IPO, the sources said.
Offer for Sale Structure
The IPO will comprise an offer for sale (OFS) of up to 148.9 million equity shares of face value Rs 1 each, representing nearly 6 per cent of NSE’s paid-up equity capital.
There will be no fresh issue of shares, meaning the exchange itself will not receive any proceeds from the offering, they said.
Strategic Listing Date
The proposed timeline has so been fixed to ensure that NSE shares debut before the 16-day lunar period ‘Pitru Paksha’ begins on September 26, they said.
The IPO has been in the works for nearly a decade and received crucial regulatory clearance from Sebi earlier this month, paving the way for the exchange’s long-awaited market debut, the sources said.
NSE is India’s largest stock exchange by trading activity and operates the benchmark Nifty 50 index. It is also the world’s most active derivatives exchange in terms of the number of contracts traded.
Background
The nearly Rs 30,000-crore initial public offering (IPO) of the National Stock Exchange is likely to open for public subscription on September 18, and list on September 25, sources said on Tuesday.
The price band for the IPO is expected to be announced on September 15, followed by the anchor book on September 17, they said.
The public issue is likely to remain open on September 18, September 21 and September 22.
There is no official announcement on this issue calendar by the bourse.
The issue, which could raise around Rs 30,000 crore, is set to surpass Hyundai Motor India’s Rs 27,870-crore offering in 2024 to become India’s largest IPO, the sources said.
The IPO will comprise an offer for sale (OFS) of up to 148.9 million equity shares of face value Rs 1 each, representing nearly 6 per cent of NSE’s paid-up equity capital.
There will be no fresh issue of shares, meaning the exchange itself will not receive any proceeds from the offering, they said.
The proposed timeline has so been fixed to ensure that NSE shares debut before the 16-day lunar period ‘Pitru Paksha’ begins on September 26, they said.
The IPO has been in the works for nearly a decade and received crucial regulatory clearance from Sebi earlier this month, paving the way for the exchange’s long-awaited market debut, the sources said.
NSE is India’s largest stock exchange by trading activity and operates the benchmark Nifty 50 index. It is also the world’s most active derivatives exchange in terms of the number of contracts traded.