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NSE targets mid-September IPO launch, possible listing by Sept. 25
The exchange said SBI Capital Markets will join State Bank of India as a joint seller, offering 24.75 million shares in the deal.
India’s National Stock Exchange is preparing to launch an initial public offering around mid-September, with a possible listing date as late as 25 September, according to people with knowledge of the plans, as it awaits a regulatory observation from India’s market regulator.
LiveMint reports that the exchange expects final steps to follow after an addendum filed on 6 August, with an observation letter from Sebi clearing the path for the offering to proceed. The IPO timing is also expected to align with the start of the 10-day Ganesh Chaturthi festival on 14 September.
The update filed by NSE with Sebi shows SBI Capital Markets will join its parent, State Bank of India, as a joint seller. Together, the joint offering covers 24.75 million shares, after an earlier draft had listed SBI as the sole selling shareholder.
The exchange is expected to start final investor roadshows next week for price discovery, with institutional and high-net-worth investor outreach first. Retail investor engagement is expected to begin next month after NSE files its Red Herring Prospectus with the Registrar of Companies, according to the report.