NSE IPO Update: SEBI Approval Likely Next Week; Rs. 30,000 Crore Mega Issue May List By September 25

The NSE IPO is finally seeming to move closer to the finish line, with the Securities and Exchange Board of India (SEBI) likely to approve the proposed public issue next week.

According to sources cited by Business Today, SEBI approval could come as early as Monday, September 7th. If the approval comes through, NSE is expected to file an updated draft red herring prospectus (UDRHP) and move ahead with the remaining steps for the IPO.

Meanwhile, CNBC-TV18 has reported that NSE could announce the IPO price band on September 11, while the exchange is targeting a stock market debut by September 25. However, these dates are not officially confirmed by NSE or SEBI yet.

NSE IPO Details

The NSE IPO is going to be massive and most looked up to public issues in India. The proposed issue is estimated at around Rs. 30,000 crore, which could make it one of the country's largest IPOs.

The IPO is going to be entirely as an offer for sale . Under the current proposal, up to 14.89 crore shares, which is around 6% of NSE's paid-up capital, would be offered by existing shareholders.

Since there is no fresh issue component, the money raised through the IPO would go to the selling shareholders rather than NSE itself.

NSE IPO Price Band And Listing Date

While the final price band has not yet been announced, reports suggest that NSE could disclose it on September 11.
The exchange is reportedly targeting a listing on or before September 25th before the start of Pitru Paksha on September 26.

SBI Capital Markets To Participate In NSE IPO

State Bank of India and its subsidiary SBI Capital Markets are also expected to sell part of their holdings in the NSE IPO. SBI Chairman C.S. Setty had said the bank would dilute a 0.7% stake in NSE, while SBI and SBI Capital Markets together could dilute up to 1% through the proposed offering.