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NSE IPO Gears Up for $2.5B Launch
2 Feb
Summary
- Temasek and LIC are key sellers in the NSE's $2.5 billion IPO.
- The IPO will feature existing shareholders offering 4-4.5% of equity.
- NSE's unlisted shares imply a $58 billion valuation, ranking it fourth globally.
Temasek Holdings and Life Insurance Corporation of India are poised to be major sellers in the National Stock Exchange of India's anticipated $2.5 billion initial public offering. State Bank of India and SBI Capital Markets are also expected to participate in the secondary sale, which will offer between 4% and 4.5% of the company's equity. All 190,000 shareholders will have the opportunity to divest their holdings.
The exchange, valued at approximately $58 billion based on unlisted share prices, ranks as the fourth most valuable globally. NSE's board is expected to form a committee soon to oversee the IPO process, including appointing investment bankers and negotiating terms. The exchange is targeting a draft prospectus filing within three months.
NSE, which dominates over 75% of India's derivatives market, reported a 15% revenue increase to 17,100 crore for the fiscal year ended March 2025, with profits surging 44% to 12,188 crore. The company recently received regulatory clearance for its IPO preparations, nearly a decade after its initial 2016 listing attempt was stalled due to corporate governance concerns.
