National Stock Exchange of India (NSE) has filed its initial public offering (IPO) prospectus with market regulator Securities and Exchange Board of India (Sebi). The NSE IPO could raise around Rs 10,000 crore, making it the largest IPO since Coal India Ltd’s Rs 15,200 crore IPO in October 2010. The offer may give the exchange a valuation of Rs 50,000-55,000 crore.
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According to draft red herring prospectus (DRHP), existing shareholders of NSE are diluting a 22.5% stake in the exchange through an offer for sale. A total of 27 investors will be selling their shares through the IPO.
NSE rival BSE Ltd is also going public. BSE filed its DRHP in September 2016. Existing shareholders of BSE, Asia’s oldest bourse, intend to sell 29.96 million shares through the offer-for-sale route, according to its prospectus. The issue represents 27.43% of BSE’s pre-share sale capital.
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