The National Stock Exchange (NSE) has secured market regulator approval of Securities and Exchange Board of India (SEBI) for its much-awaited Initial Public Offering (IPO), estimated at around Rs 30,000 crore, paving the way for one of the largest public issues in the history of the Indian stock market.
NSE had filed its draft papers with the market regulator in June for the proposed public issue. According to the draft red herring prospectus (DRHP), the public issue will be entirely an offer for sale (OFS) of 14.89 crore shares with existing shareholders collectively divesting nearly 6 per cent of the exchange’s stake. Among the top selling shareholders, State Bank of India will offload up to 2.48 crore shares, followed by MS Strategic (Mauritius) with 1.60 crore shares.
National Stock Exchange of India operates a vertically integrated stock exchange - where it offers a simple, integrated platform for trading, clearing, listing and other services such as data feed services, data terminal services and licensing services. It offers a diversified range of products across multiple asset classes, including cash market, futures, options, mutual funds platform, commodity derivatives, exchange-traded currency derivatives, wholesale debt market and interest rate futures, among others.
