India’s NSE receives Sebi approval to proceed with long-delayed IPO

New Delhi, Sep 4: The National Stock Exchange (NSE) has secured market regulator Sebi's approval for its much-awaited IPO, estimated at around Rs 30,000 crore, paving the way for one of the largest public issues in the history of the Indian stock market.According to an update with the markets regulator, NSE obtained Sebi's final observations on September 4.NSE had filed its draft papers with the markets regulator in June for the proposed public issue.US Emerges As India’s Largest LNG Supplier As Iran Conflict Reshapes Gas Import StrategyIPO approval clears key hurdleReceiving SEBI's observations is a key step in the IPO process, after which the company can proceed with further preparations for the public issue, subject to applicable regulatory requirements.The approval marks a major step for NSE, whose listing plans had been stalled for nearly a decade due to regulatory hurdles, including the co-location controversy.The public issue will be entirely an offer for sale (OFS) of 14.89 crore shares with existing shareholders collectively divesting nearly 6 per cent of the exchange's stake, according to the draft red herring prospectus (DRHP).Shareholders set to offload stakesAmong the top selling shareholders, State Bank of India will offload up to 2.48 crore shares, followed by MS Strategic (Mauritius) Limited with 1.60 crore shares.According to people familiar with the matter, the IPO size could be around Rs 30,000 crore, implying a market capitalisation of over Rs 5 lakh crore.Also Watch:Potential record market debutThis long-awaited public offering will surpass the previous record held by Hyundai Motor India's Rs 27,870 crore issue launched in October 2024.(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

India's market regulator Sebi has approved the National Stock Exchange's initial public offering. This approval allows the country's largest bourse to list after nearly a decade of delays. The proposed IPO could be worth around Rs 30,000 crore, making it one of India's largest. Existing shareholders will collectively divest nearly six percent of NSE's stake in the offer. NSE dominates India's equity derivatives market and operates the Nifty 50 index.

The National Stock Exchange of India Ltd. has received regulatory approval for what could be the country’s biggest-ever initial public offering, clearing a key hurdle in the world’s largest derivatives exchange’s years-long effort to list.