STOCK MARKET BSE NSE

NSE files IPO papers to SEBI, may raise Rs 10,000 crore

The National Stock Exchange (NSE) on Wednesday filed draft papers for over Rs 10,000 crore initial public offer (IPO) with market regulator SEBI.

Published: 29th December 2016 12:46 AM  |   Last Updated: 29th December 2016 07:45 AM   |  A+A-

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Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. (File | Reuters)

By Express News Service

NEW DELHI: The National Stock Exchange (NSE) on Wednesday filed draft papers for over Rs 10,000 crore initial public offer (IPO) with market regulator the Securities and Exchange Board of India (Sebi), expected to be one of the biggest in recent times.

The initial public offer will see existing shareholders offloading 20-25 percent shares to the public through the OFS route.

The offer may also give the exchange a valuation of Rs 50,000-55,000 crore, sources said, adding that the IPO itself could be worth about Rs 10,000 crore.

On the other hand, rival BSE Ltd had filed its IPO papers with SEBI in September to raise around Rs 1,500 crore.

Meanwhile, the BSE Ltd promoted Rs 139.42-crore revenue Central Depository Services (India) Ltd too filed its Draft Red Herring Prospectus (DRHP) with Sebi offering over 3.51 crore shares.

Currently, MCX is the only listed exchange in the country, but it had come out with an IPO as a standalone commodity exchange much before the merger of Forward Markets Commission with Sebi to create a unified capital markets regulator.

After months of speculation, NSE announced in June that its plans to get listed and had said IPO papers would be filed by January 2017

Amid preparations for the share sale, NSE saw the surprise exit of its Managing Director and CEO Chitra Ramkrishna earlier in December.



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