Sources indicated to CNBC-TV18 that multiple institutional investors are preparing to partially monetise their holdings as the exchange moves towards what could be one of India’s biggest IPOs.
Key sellers emerge
According to sources, among the prominent names, Stock Holding Corporation of India is expected to offload around 0.44% stake in the IPO. Stock Holding Corporation of India currently owns 4.4% in NSE, implying a partial dilution.
At an assumed valuation of ₹5 lakh crore, the sale could fetch roughly ₹2,200 crore.
Notably, Stock Holding Corporation of India itself has a strong government-linked ownership structure, with IFCI holding a 52.66% stake in the entity.
Meanwhile, insurance giant Life Insurance Corporation of India (LIC) is also likely to be a key seller, with plans to divest over 1% stake. LIC is currently the largest shareholder in NSE with a 10.7% holding, making its participation critical to the size and success of the offering.
Broader shareholder exit likely
Sources further indicate that a wider set of institutional investors could participate in the OFS. These include:
New India Assurance
GIC Re
ChrysCapital
Temasek Holdings
IPO structure and significance
The NSE IPO is expected to be executed via the OFS route, meaning no fresh capital will be raised by the exchange, and proceeds will go to selling shareholders.
The listing marks a significant milestone for the exchange, which has been attempting to go public for nearly a decade.
