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Wednesday , 20 September 2017
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National Stock Exchange to raise Rs 10,000 crores

nse-kq1e-621x414livemintThe Mumbai based National Stock Exchange has submitted documents with the Securities and Exchange Board of India (SEBI) in relation to an eagerly awaited Initial Public Offering (IPO). The IPO is said to be one of the biggest of this decade. NSE is aiming to get about Rs 10,000 crores from the IPO. Existing NSE shareholders will be offloading about 20 – 25% of their stake to raise this amount through the Offer for Sale (OFS) route.

NSE has also submitted the Draft Red Herring Prospectus (DRHP) details with the SEBI. The IPO may make the stock exchange worth about Rs 50 – 55,000 crores.NSE has appointed JM Financial, Kotak Mahindra Capital, Morgan and Stanley and Citigroup to manage its upcoming IPO. NSE CEO and MD Chitra Ramakrishna had abruptly resigned from the company this month. The reason for her exit is not known.

NSE had made the announcement to go public in the month of June. NSE rival, Bombay Stock Exchange (BSE) will also be having its initial share sale for about Rs 1,500 crores, and had submitted documents with respect to this in the month of September.

BSE promoted Central Depository Services of India Limited (CSDL) has also filed papers for selling over 3.5 crore of its shares.

Currently MCX is the only publicly traded stock exchange in the country.

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