NSE IPO: Explained | What is an 'observation letter' issued by Sebi as regulator okays ₹30,000 cr much-awaited issue

SEBI issued its final observations to the National Stock Exchange on September 4, clearing the way for its long-awaited IPO estimated at about Rs 30,000 crore through an offer for sale of up to 149 million shares, equivalent to 6% of paid-up capital. The implied market capitalisation could exceed Rs 5 lakh crore, placing NSE among the top 10 most valuable Indian firms. Listing is planned for the week starting September 21, with book-building from September 11 and the price band announcement on September 15.