The National Stock Exchange of India (NSE) is likely to set the price band for its much-awaited initial public offering at Rs 1,750-Rs 1,785 per share, according to multiple sources familiar with the development.
At the upper end of the proposed range, NSE would be valued at around Rs 4.42 lakh crore, lower than the roughly Rs 5 lakh crore valuation earlier envisaged for the IPO. Sources said the lower pricing is aimed at making the issue more attractive to retail investors.
The exchange is also likely to reduce the portion of equity offered in the IPO to around 5.5%, from the earlier plan of 6%. Some shareholders are understood to have opted against selling their stakes at the proposed lower valuation.
The IPO is entirely an Offer For Sale (OFS), meaning proceeds will go to existing shareholders rather than NSE. The proposed 5.5% stake sale at the upper end of the price range would raise roughly Rs 24,300 crore.
NSE is expected to file an updated draft red herring prospectus (DRHP) with SEBI today, with the final price band expected to be announced later.
Bank of Baroda is planning to divest around 35% or upto 76,90,375 shares held by the lender in National Stock Exchange of India Limited (NSE), by way of offer for sale (OFS) through initial public offering (IPO). As part of the OFS process the equity shares have been transferred to the “Escrow Account” on Tuesday. The expected date of completion of the divestment is end of September 2026.
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