Mumbai: The initial public offer for the National Stock Exchange (NSE), India's largest stock exchange by trading turnover and revenue, received a significant boost on Monday. The required number of the bourse's shareholders agreed to part with their holdings in the offer for sale (OFS), paving the way for the IPO to move forward.
Shareholder Participation
Monday marked the final day for existing shareholders to agree to divest their holdings through the IPO. Although the final figures were still being compiled late Monday, sources confirmed that the aggregate offering of shares had crossed the 4% threshold of NSE's total equity capital. Both public sector unit (PSU) and private shareholders participated in the OFS.
Major Stakeholders
Life Insurance Corporation (LIC) and banking giant State Bank of India (SBI), along with its subsidiaries, are among the major shareholders of NSE. Together, they hold a little over 18% in the exchange. As of March 31, NSE had over 2 lakh shareholders, collectively holding 247.5 crore shares.
The NSE is in the process of finalizing its offer document for the IPO, which is estimated to be worth around Rs 23,000 crore. The successful completion of the OFS is a crucial step toward the much-anticipated listing of the stock exchange.
