NSE IPO Price Band May Be Set At ₹2,100-₹2,300; Issue Could Launch In September: Report
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NSE IPO price band could be set at ₹2,100-₹2,300, with the issue potentially launching in September at a valuation of ₹5.2-₹5.3 lakh crore.
The National Stock Exchange (NSE) could receive approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) draft red herring prospectus (DRHP) within the next two weeks, with the mega issue potentially launching in the second half of September, according to a CNBC-TV18 report citing people familiar with the matter.
The NSE IPO price band could be announced in early September, while the exchange is looking at a valuation of around ₹5.2 lakh crore to ₹5.3 lakh crore, the sources said. The IPO could be priced in the range of ₹2,100 to ₹2,300 per share.
The latest timeline comes as NSE conducts global roadshows for the proposed listing. The exchange has been meeting investors as it gauges demand and gathers feedback ahead of finalising the issue details.
NSE IPO Price Band, Valuation And Timeline
If the proposed price range is finalised, the NSE IPO could become India's largest public offering. The exchange's proposed IPO comprises up to 14.89 crore shares, representing around 6% of its paid-up capital.
At a price of ₹2,100 per share, the shares on offer would be worth around ₹31,269 crore, while a price of ₹2,300 would imply an issue value of around ₹34,247 crore, based on the maximum number of shares proposed in the DRHP.
The IPO is structured entirely as an offer for sale (OFS), meaning NSE itself will not receive proceeds from the share sale. The proceeds will instead go to the existing shareholders participating in the offer.
The potential issue size would put the NSE IPO ahead of Hyundai Motor India's ₹27,870 crore IPO, which currently holds the record for India's largest public offering.
NSE IPO Approval And September Launch
The latest report follows NSE's confirmation that its IPO has received regulatory clearance to proceed. NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan had thanked the SEBI Chairman for approving the exchange's no-objection certificate (NOC) for the proposed listing.
According to the CNBC-TV18 report, SEBI's approval of the DRHP is expected within the next two weeks. The price band could then be announced in early September, with the IPO potentially opening in the second half of the month.
However, the proposed price band, valuation and launch timeline are not final. The discussions remain at an early stage, and the details could change depending on regulatory approvals, market conditions and investor feedback.
The NSE has previously filed its DRHP with SEBI for the proposed IPO, setting the stage for what could be one of India's biggest-ever stock market listings.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
