En route to D-Street: NSE files draft papers with Sebi

NSE has filed draft papers with SEBI for its long-awaited IPO through an offer for sale of up to 148.9 million shares, representing around 6% of paid-up capital, with no fresh issue component. NSE is currently valued at about 5 lakh crore in the unlisted market, and selling shareholders include SBI, CPPIB, Bank of Baroda, and several public-sector insurers, while LIC will not participate. The shares will list on BSE as regulations bar self-listing, with 50% earmarked for QIBs, 15% for non-institutional bidders, and 35% for retail investors.