Morgan Stanley Cuts NSE IPO Stake Sale by 5M Shares as Issue Shrinks
MS sits 45% above its 52-week low of $148.35.
Summary
Morgan Stanley's investment vehicle MS Strategic (Mauritius) has reduced its planned stake sale in the National Stock Exchange of India IPO by 5 million shares, from 16 million to 11 million shares. The overall NSE IPO size has been cut from a 6% stake (149 million shares, ~Rs.30,000 crore) to 5.5% (~Rs.23,000 crore), making it smaller than Hyundai Motor India's 2025 debut. Other institutional investors, including Bank of Baroda, Indian Bank, GIC Re, Stock Holding Corporation, and National Insurance, also pared their planned sales. The reduction reflects broader reluctance among major backers to sell larger stakes, though it may signal confidence in the exchange's growth. This is the first report of Morgan Stanley's specific share reduction, adding detail to earlier reports of the IPO size cut. The NSE is expected to file its red herring prospectus later today, with pricing near Rs.1,800 per share.
At the time of this announcement, MS was trading at $215.40 on NYSE in the Finance sector, with a market capitalization of approximately $338.2B. The 52-week trading range was $148.35 to $232.25. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Mint.