NSE’s proposed IPO is poised to value India’s largest stock exchange at around Rs 5 lakh crore, crystallising a behemoth franchise into a listed play on the country’s capital-market deepening story while throwing up two critical scenarios that investors must track closely.
National Stock Exchange of India Ltd (NSE) has filed its DRHP for an IPO structured entirely as an Offer for Sale (OFS), with up to 148.9 million equity shares, around 6% of outstanding equity, being offloaded by existing shareholders. Key sellers include State Bank of India, MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments (Mauritius) and Bank of Baroda, signalling a broad-based monetisation by marquee financial institutions.
