NSE IPO Worth Rs 30,000 Crore Likely to Open on September 18, Sources Say

The National Stock Exchange's much-awaited initial public offering is likely to open for subscription on September 18, according to sources, with the issue expected to raise nearly Rs 30,000 crore.

If the proposed issue reaches the expected size, the NSE IPO could become the largest public offering in India's history. The shares are reportedly expected to be listed on September 25.

According to the proposed schedule, the price band for the NSE IPO is likely to be announced on September 15. The anchor book is expected to open on September 17, followed by the public subscription period beginning on September 18.

The public issue is expected to remain open for subscription on September 18, September 21 and September 22. However, the NSE has not yet made an official announcement regarding the IPO schedule.

The proposed Rs 30,000 crore issue could surpass Hyundai Motor India's Rs 27,870 crore IPO in 2024 to become the largest IPO in the country.

The NSE IPO is expected to be entirely an offer for sale, meaning the stock exchange will not issue any new shares or receive proceeds from the public offering.

Sources said up to 148.9 million equity shares with a face value of Rs 1 each could be offered through the IPO. The shares are expected to represent nearly 6% of NSE's paid-up equity capital.

Since the public issue is structured as an offer for sale, the money raised from the sale of shares will go to the existing shareholders who are selling their holdings rather than to the National Stock Exchange.

Bank of Baroda is also expected to reduce its stake in the NSE through the IPO. Reports indicate that the state-owned bank could sell around 35% of its holding in the exchange as part of the offer for sale.

The bank is expected to offer approximately 76,90,375 NSE shares through the public issue.

The potential listing of the NSE is being closely watched by investors because of the exchange's position at the centre of India's rapidly growing capital markets. The IPO could also become one of the most significant stock market events of the year if the proposed Rs 30,000 crore issue size and September timeline are confirmed.

Investors are now awaiting an official announcement from the NSE regarding the final IPO schedule, price band, issue size and other details.