- Indian Bank plans to divest 17.91% stake in NSE through an offer for sale
- The divestment involves up to 15,00,000 equity shares held by Indian Bank in NSE
- The sale will be conducted via an initial public offering of NSE shares
Indian Bank is planning to divest 17.91% or upto 15,00,000 shares held by the state-owned lender in National Stock Exchange of India Limited (NSE), by way of offer for sale (OFS) through initial public offering (IPO), according to an exchange filing on Wednesday, September 9.
The filing read, "Bank is proposing to divest upto 15,00,000 equity shares, constituting 17.91% of the shares held by our Bank in National Stock Exchange of India Limited (NSE), by way of Offer for Sale in proposed Initial Public Offering (IPO) of NSE, subject to requisite regulatory approvals."
In FY26, NSE received dividend of Rs 29,31,25,000 from NSE. As part of the OFS process the consent letter has been executed on September 9, 2026.
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The expected date of completion of divestment is end of September, 2026.
The development comes a day after Bank of Baroda announced its plan to divest around 35% or upto 76,90,375 shares held by the lender in NSE, by way of OFS through IPO.
Last week, market regulator Securities and Exchange Board of India (SEBI) approved NSE IPO.
Sources earlier told NDTV Profit that NSE is expected to announce the price band for its IPO on September 11 and may list in the third week of this month.
The NSE IPO also received a no objection certificate from market regulator SEBI in August 2026. NDTV Profit had reported on July 30 that the National Stock Exchange is expecting to get listed on the BSE by September 2026.
The operator of the world's largest derivatives exchange by trading volume, NSE had filed its draft papers for the IPO with the market regulator on June 17 this year.
As per market estimates, NSE IPO is expected to be worth more than Rs 30,000 crore, while the stock exchange is seeking a valuation of as much as Rs 5.26 lakh crore ($55 billion) through the IPO, Bloomberg had reported earlier, citing people familiar with the matter.
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