Market regulator Securities and Exchange Board of India (SEBI) gave its approval for the NSE IPO over the weekend. NSE is likely to announce its price band on Friday, September 11, and is eyeing September 25 as its listing date, sources added.
A clutch of public sector companies, Private Equity players, and Investment Banking firms feature among the list of selling shareholders.
As part of the NSE IPO papers, State Bank of India (SBI), Bank of Baroda, StockHolding Corporation of India, Indian Bank, GIC Re, New India Assurance, United India Assurance, National Insurance and Oriental Insurance are among the public sector companies that will be selling part or complete stake in the NSE IPO.
Among the private sector, the likely sellers in the NSE IPO are Morgan Stanley, CPPIB, Temasek, Crown Capital, OMERS, ChrysCap, ICICI Lombard, TA Associates, Soach Global.
Life Insurance Corporation (LIC) of India holds 10.7% stake in LIC, while StockHolding Corp, SBI Capital and SBI hold 4.4%, 4.3% and 3.2% stake in it, respectively.
Meanwhile, GIC holds 1.64% stake, Oriental Bank and New India Assurance have a 1.42% stake in NSE, each.
NSE has a total of 1.7 lakh shareholders, which is the highest for an unlisted company.
Ahead of the mega IPO, some of the stocks which feature among the selling shareholders, directly or indirectly, have seen a sharp jump in their stock price.
Also Read: NSE IPO valuation could be below ₹2,000 a share: Equirus’ Ashutosh Tiwari
Shares of New India Assurance have gained 19% so far this month, while those of IFCI, the promoter entity of StockHolding Corporation of India, are up 16% so far in September.
