NSE's Rs.30,000 Crore IPO Set to Break India's Listing Records
C sits 47% above its 52-week low of $93.66.
Summary
The National Stock Exchange of India is preparing a mega IPO expected to raise around Rs.30,000 crore, which would surpass the previous records set by Hyundai Motor India (Rs.27,870 crore) and LIC (Rs.21,000 crore). The offering is entirely an offer for sale of up to 149 million shares, representing about 6% of NSE's equity, with no fresh capital raised. Book-building is slated to begin September 11, with a price band announcement around September 15 and a likely listing in the week of September 21. Citigroup Global Markets India and Morgan Stanley India were among the book-running lead managers for the Hyundai Motor India IPO, highlighting their involvement in India's large capital markets deals. For Citigroup, this underscores its investment banking franchise in India, though the direct revenue impact from the NSE IPO itself is not yet disclosed. The IPO's size and timing could influence market sentiment around Indian financial infrastructure and the banks involved in underwriting.
At the time of this announcement, C was trading at $137.71 on NYSE in the Finance sector, with a market capitalization of approximately $231B. The 52-week trading range was $93.66 to $147.96. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Mint.