National Stock Exchange (NSE) is moving ahead with full steam as per its plan to go public after nearly a decade of delay.
Various media reports have mentioned that NSE has informed its bankers to speed up the filing of its draft red herring prospectus (DRHP), keeping June 15 as their target date.
If this goes through, the initial public offering (IPO) of NSE is likely to become India's biggest IPO, with the issue size likely to exceed Rs 20,000 crore. It has also been informed that the IPO will be via the offer-for-sale (OFS) route, which means no fresh capital will be raised, but existing shareholders will sell their shares in the market and the proceeds will go to the selling shareholders.
As per CNBC- TV18, multiple institutional investors are preparing to offload their holdings partially as the exchange inches closer to going public.
Among the key names that are looking forward to offloading their shares are Stock Holding Corporation of India, Life Insurance Corporation of India, New India Assurance, Temasek Holdings, GIC Re and Chrys Capital.
With D-Day soon approaching, the stock is currently trading at Rs 1,925 per share in the unlisted market, reflecting a strong investor sentiment towards the stock.
As per Analytics Insight, recent activity in the unlisted market value the company between Rs 4.5 trillion and Rs 5 trillion.