IPO
NSE slashes IPO size from Rs.30,000-Cr to Rs.23,000-Cr
The National Stock Exchange (NSE) has filed an updated draft red herring prospectus (UDRHP). The proposed initial public offering (IPO) size is now estimated at about INR 23,000-Cr, a reduction from the initial INR 30,000-Cr figure outlined in the draft prospectus filed in June.The offering remains an entirely offer-for-sale (OFS) structure, to allow existing shareholders divest their stakes. The exchange will not receive any proceeds from the issue. The initial proposal involved the sale of 14.89 crore shares, representing roughly 6% of the equity of the company.The reduction in the IPO size follows a decision by public-sector insurance companies, including General Insurance Corporation of India, New India Assurance, National Insurance Company, and United India Insurance Company, to lower the number of shares they intended to sell. MS Strategic (Mauritius), an entity linked to Morgan Stanley, also reduced its planned share offering.
Between Jan 2007 and Mar 2023, National Stock Exchange had attracted about $ 2181 M from Elevation Capital, General Atlantic, Goldman Sachs, Actis, Morgan Stanley, Kotak Alternate, PremjiInvest, Tiger Global, Beacon India, Temasek, GTI Group, Wolfensohn & Co, Faering Capital, TVS Capital, TPG Newquest, Fairfax Holdings, 360 ONE, Alpha Wave Global.Axis PE, Edelweiss Private Equity, Think Investments, TA Associates, Catamaran, CPP Investments, Raintree Ventures, India Alternatives.For FY25, National Stock Exchange had reported about INR 15,433 Cr in Operating Income and about INR 11,246 Cr in PAT.
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