NSE likely to price IPO at 1,700-1,785 Indian rupees per share, source says
- NSE's IPO could value the exchange at $46.41 billion, making it one of India's largest companies by market capitalization
National Stock Exchange of India is likely to price its initial public offering at 1,700 to 1,785 rupees per share, a source aware of the matter said on Tuesday.
At the upper end of the price band, NSE would be valued at 4.4 trillion rupees ($46.41 billion), making it one of India’s biggest companies by market capitalisation.
The long-awaited IPO could rank among India’s biggest-ever, alongside billionaire Mukesh Ambani’s Jio Platforms. NSE dominates India’s equity derivatives market and is the world’s most-active derivatives exchange by contracts traded.
The source did not want to be identified as they are not authorized to speak to the media.
India’s NSE targets listing in week of September 21 after IPO clearance, sources say
NSE did not immediately respond to a Reuters request for comment.
Reuters had reported last week that the exchange is targeting a listing in the week starting September 21.
Bloomberg News had reported the price band earlier on Tuesday.
NSE may reduce the stake being offered to about 5.5% of total equity capital from the originally planned 6%, Bloomberg News reported, citing sources. Reuters could not immediately verify this.