It can be noted that the festive-time IPO -- next Monday's Ganesh Chaturthi kicks off the festive season -- comes at a time when the markets are witnessing high volatilities. There have been few issuances lately, but they have been of smaller sizes.
NSE's IPO, which was initially believed to raise over Rs 30,000 crore, will become the second biggest to date in India after South Korean carmaker Hyundai Motors' Rs 27,870-crore issue and a tad higher than the Rs 21,000 crore raised by insurance behemoth .
Jio Platforms' is also readying for a Rs 37,700-crore issue to be launched during the festival period itself.
On the critical issue of whether NSE's shares will be listed on its own platform, Chauhan said they have not written to capital markets regulator (SBI) has reduced its proposed OFS to around 1.60 crore shares from 2.47 crore shares, while MS Strategic (Mauritius) Ltd has cut its offer to 1.1 crore shares from 1.6 crore shares.
, Stock Holding Corporation of India Ltd and have also reduced their proposed share sale, while SBI Capital Markets Ltd is a new selling shareholder in the RHP.
Since the issue is entirely an OFS, proceeds from the share sale will accrue to the selling shareholders and not to NSE.
The public issue marks a major milestone for NSE, after markets regulator Sebi last week gave clearance to the exchange to proceed with the offering.
Its listing plans remained stalled for nearly a decade amid regulatory hurdles, including the co-location controversy.
