The National Stock Exchange’s initial public offering (NSE IPO) will not be India’s largest public offering, as the offer-for-sale (OFS) size was reduced by nearly 15 per cent to up to 12.64 crore equity shares from the earlier proposed 14.89 crore equity shares.
The exchange on Friday fixed a price band of Rs 1,700-1,785 per equity- at the upper end of the price band, NSE will raise Rs 22,569 crore, making it the country’s second-largest public issue after Hyundai Motor India’s Rs 27,870-crore initial share sale in 2024.
The reduction in the OFS size from various stakeholders, including SBI and MS Strategic (Mauritius), has brought down the overall issue size from the initial estimate of Rs 30,000 crore. NSE IPO is one of the most awaited initial share sales, and it will open for subscription next week, after its offerings were stalled amid regulatory hurdles.
NSE IPO: Bidding Dates, Issue Size, Other Key Details
|
NSE IPO Detail |
Information |
|---|---|
|
Subscription Dates |
September 17 – September 21 |
|
Issue Size |
Rs 22,569 crore |
|
Listing Date |
September 24 |
|
Price Band |
Rs 1,700-1,785 |