- The National Stock Exchange of India Ltd. is preparing for an IPO.
- Existing shareholders are being invited to express interest to sell equity.
- EOI forms and annexures have been sent to potential OFS participants.
The National Stock Exchange of India Ltd. has sent a letter to existing shareholders seeking their expression of interest to sell equity via an offer for sale in the upcoming initial public offering. The IPO will have no fresh issue component and involve about 4% or more of its equity on sale. The exchange has around 191,000 shareholders.
The bourse has mailed EOI forms and annexures for investors who want to participate in the OFS.
NSE will review and verify the EOIs, following which it will identify the eligible shareholders who may participate in the OFS. The equity shares will be sold in the IPO at an offer price determined through the book building process by the company in consultation with merchant bankers.
Other than the offered shares in the OFS, all pre-IPO equity shares held by the shareholder will be locked-in for six months from the date of allotment after the IPO.
India's largest stock exchange is expected to submit its DRHP to SEBI by May-end, or the first week of June, according to sources. NSE has appointed Morgan Stanley and 19 others for its much-anticipated IPO.
Eligibility
"The exact date of the filing of the DRHP with SEBI is currently unknown. Accordingly, only such equity shares which have been held continuously since June 15, 2025 (the cut-off date) will be eligible to be sold in the Offer for Sale," the letter said.
The cut-off date has been set based on the currently estimated timeline of the filing of the DRHP. Given that the exact timing of filing of the DRHP is currently unknown, NSE has the right but not an obligation to revise the date to determine the eligibility of the offered shares. If there is any revision to such date, the company will inform its shareholders.
The equity shares shall be fully paid-up and the shareholder shall not be subject to any restraining order of any court or tribunal, any charge, lien, pledge, encumbrance or transfer restriction of any kind whatsoever, including any ‘lock-in'.
Shareholders who participate in the OFS will not be allowed to purchase shares in the IPO as an investor.
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