NSE IPO pricing set below earlier range The National Stock Exchange of India Ltd. (NSE) is expected to announce an IPO price between ₹1,700 and ₹1,785 per share, a notable cut from the previously marketed ₹2,000–₹2,100 band. The decision follows a pull‑back by some shareholders who opted not to sell at the higher price.
Stake reduction and valuation impact Alongside the lower price, NSE will trim the equity stake offered to 5.5% of its total capital, down from the 6% originally planned. The revised pricing would value the exchange at a maximum of ₹4.42 trn (US$46.6 bn), compared with the earlier target of ₹5.26 trn.
Key shareholders and expected proceeds The offering will consist entirely of secondary shares. Shareholders such as Morgan Stanley, Temasek Holdings, State Bank of India, Stock Holding Corporation of India, General Insurance Corp., New India Assurance, National Insurance and Oriental Insurance are among those selling stakes. At the top of the proposed range, the sale of a 5.5% stake would raise about ₹243 bn, slightly below the ₹279 bn raised by Hyundai Motor India in 2024.
Next steps and market implications NSE is slated to announce the final price range this week and open the IPO for subscription in the week beginning 14 September. While the company has filed its draft prospectus in June and the regulator approved it on 4 September, the final details may still change as negotiations continue.
The move reflects a cautious approach to market conditions and shareholder sentiment, aiming to balance valuation with investor appetite.