NSE files DRHP for IPO, with SEBI
DSIJ Intelligence / 28 Dec 2016
National Stock Exchange, one of the world’s largest stock exchange in terms of traded volumes, has today filed a draft red herring prospectus (DRHP) with the market regulator SEBI for a whopping Rs 10,000 crore IPO which will the biggest new issue in the recent years.
National Stock Exchange, one of the world’s largest stock exchange in terms of traded volumes, has today filed a draft red herring prospectus (DRHP) with the market regulator SEBI for a whopping Rs 10,000 crore IPO which will the biggest new issue in the recent years.
The IPO will be an OFS (offer for sale) and the money raised by selling the stake of existing shareholders will not come to the company but will go to the respective shareholders itself. NSE plans to sell 25 per cent through the OFS process.
The issue size is pegged at close to Rs 10,000 crore which will be the biggest offering in recent memory only after Coal India's mammoth IPO.
NSE's issue would be competing with that of cross-town rival BSE Ltd., Asia’s oldest stock exchange, which too had filed a draft prospectus with the capital markets' regulator SEBI, in September.
NSE shareholders include prominent players like Goldman Sachs, Saif Partners, LIC, SBI, IFCI, IDBI Bank etc. Anticipating higher valuation from the new issue, share prices of shareholders that are listed, have surged in trade as they would be direct beneficiaries of the IPO.
Listed shareholders of the NSE will be in focus tomorrow when markets open for trading.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.