Key Takeaways
- National Stock Exchange of India (NSE) is expected to price its IPO at 1,700 to 1,785 Indian rupees per share.
- At the upper end, NSE would be valued at 4.4 trillion rupees, making it one of India’s biggest companies.
- The IPO could rank among India’s biggest-ever, similar to billionaire Mukesh Ambani’s Jio Platforms.
National Stock Exchange of India (NSE) is set to price its initial public offering (IPO) at 1,700 to 1,785 Indian rupees per share, according to a source familiar with the matter. This pricing range suggests a market capitalisation of 4.4 trillion rupees at the upper end, positioning NSE as one of India’s largest companies by market capitalisation.
The long-awaited IPO is expected to be among India’s biggest-ever, comparable to the listing of billionaire Mukesh Ambani’s Jio Platforms. NSE is a dominant player in India’s equity derivatives market and is the world’s most-active derivatives exchange by contracts traded.
The IPO is targeted for the week starting September 21, following clearance from relevant authorities. Reuters had previously reported that NSE is aiming for this timeframe. Bloomberg News had earlier reported the price band of 1,700 to 1,785 rupees per share.
The source, who did not wish to be identified, stated that the IPO could rank among India’s biggest-ever, alongside Jio Platforms. NSE currently dominates the equity derivatives market in India, making it a significant player in the country’s financial landscape.
Reuters had reported last week that NSE is targeting a listing in the week starting September 21. Bloomberg News had also reported the price band earlier on Tuesday, citing sources. Reuters could not immediately verify the report that NSE may reduce the stake being offered to about 5.5% of total equity capital from the originally planned 6%.
The IPO is seen as a significant milestone for NSE, which has been in the process of listing for some time. The exchange is expected to attract substantial interest from investors due to its dominant position in the derivatives market and its potential market capitalisation.
