SEBI has approved NCDEX's IPO worth Rs. 500 crore. The issue will include a fresh offer of up to Rs. 100 crore plus an offer for sale or OFS for sale of up to 1.44 crore equity shares as per the DRHP.
On April 9, the market watchdog has given "observations" to NCDEX's IPO on April 9. These observations are mandatory for initial share sale, FPO as well as rights issue.
In Fedruary, the company had approached the market regulator for coming up with the IPO issue.
So, this would be the third listing on the bourses by any exchange after the earlier BSE and MCX.
Among the shareholders , selling their stake are Build India Capital Advisors LLP, Canara Bank, Indian Farmers Fertiliser Cooperative, Investcorp Private Equity Fund I. Also, Jaypee Capital Services, National Bank for Agriculture and Rural Development, Oman India Joint Investment Fund and Punjab National Bank will also divest their stake.
The commodity exchange has proposed to use the proceeds towards contributing to the core settlement fund, net worth requirements of National Commodity Clearing Limited and general corporate purposes.
The book running lead managers to the offer are ICICI Securities and SBI Capital Markets. ICICI Securities is the coordinating lead manager for the issue. The shares are proposed to be listed on the BSE and NSE.