NSE IPO: IFCI, IDBI Bank, SBI, other stocks gain up to 3% as NSE files for India's largest IPO. Who else is selling stake?
Awaiting price reaction for this filing.
NSE filed its DRHP with SEBI for an estimated 3 billion dollar IPO, entirely an Offer for Sale of up to 14.89 crore shares representing 22.5 percent stake. Major listed selling shareholders include IDBI Bank (74.16 lakh shares), SBI (64.28 lakh), IFCI (34.34 lakh), HDFC Life (24.75 lakh), Bank of Baroda (10.99 lakh) and Bajaj Holdings (20.40 lakh), while Tiger Global is the largest overall seller at 1.48 crore shares. Stocks with direct or indirect NSE exposure rallied sharply, with IFCI up 3 percent, Bank of Baroda up 2 percent and IDBI Bank correcting 4 percent after a 20 percent surge the previous day. NSE unlisted market valuation is around Rs 5 lakh crore, making it one of India's most valuable listed financial institutions post-issue.