NSE IPO price band may come below GMP valuation; past listings hint at sharper discount – Check expectation – Markets

NSE’s draft red herring prospectus (DRHP) outlines a pure offer-for-sale (OFS), meaning the exchange itself will not raise fresh capital. Instead, existing shareholders, including State Bank of India, CPPIB, GIC, Aranda Investments, and several public sector insurers, will pare stakes.