NSE gets board go ahead for IPO via OFS
DSIJ Intelligence / 06 Oct 2016
One of the most awaited IPO in the country got one step closer to realisation when the board of directors in a meeting held on October 04 approved the launch of IPO (initial public offer) via OFS (offer for sale) route.
One of the most awaited IPO in the country got one step closer to realisation when the board of directors in a meeting held on October 04 approved the launch of IPO (initial public offer) via OFS (offer for sale) route.
The directors have also approved the issuance of bonus shares, stock split and dividend pay out to the existing bunch of investors.
NSE plans to get listed in India as well as abroad. It will file draft IPO papers with market regulator SEBI for the domestic public issue by January 2017; while it will file for overseas listing by April next year.
It has been in the offing for a long time as present investors have been asking the board to go ahead with the public listing so they can unlock value or may even get a premium on exit.
The exchange has roped in four merchant bankers namely Citigroup, Morgan Stanley, JM Financial and Kotak Mahindra to manage its upcoming IPO.
NSE’s close competitor BSE has already filed DRHP (draft red herring prospectus) with the regulator.
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