National Stock Exchange
The National Stock Exchange (NSE) through which you buy and sell shares every day, has now made full preparations to get listed in the stock market itself. Investors were waiting for this mega IPO for a long time and now after getting the green signal from SEBI, the exchange has intensified its preparations. If sources are to be believed, its draft paper (DRHP) will be filed by the end of June and its shares will be seen trading in the market by the third quarter of this financial year i.e. December.
Will the record of Hyundai and LIC be broken?
According to reports, the exchange can sell 4 to 4.5 percent of its stake through this IPO. There is a plan to raise around Rs 23,000 crore from this bet. However, this total amount may change depending on the market condition and final valuation. You will remember that till now the crown of bringing the biggest IPO in the country is in the name of Hyundai (Rs 2,858 crore in October 2024) and the country’s largest insurance company LIC (Rs 20,000 crore in the beginning of 2022). Now NSE is on the way to leave these giants behind and set a new record.
Long wait of 8 years, file was stuck since 2016
The story of this IPO is not of today. NSE first filed its draft paper in the year 2016 to raise Rs 10,000 crore from the market. But at that time the co-location controversy came to the fore and after strong objections from the market regulator SEBI, this entire plan came to a halt. Since then, the exchange management has approached SEBI several times for approval of the IPO. Now that long struggle seems to be bearing fruit. The exchange has also prepared an army of 20 renowned merchant bankers and many law firms for this mega launching, which includes many leading domestic and foreign institutions.
SBI will also sell stake
SBI Chairman CS Setty has recently clarified that the bank is considering encashing some of its stake in the NSE IPO. At present, the total value of stake of SBI and its subsidiary company SBI Caps in NSE is estimated at around Rs 43,500 crore. In such a situation, when this issue opens, along with big institutions, money from retail investors will also come into the market on a large scale. At present, the eyes of every market participant are fixed on the preliminary documents to be filed in June, due to which the picture of this mega offer and all the figures related to its valuation will be completely clear.
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