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NSE starts valuation for mega-IPO as institutional demand builds
NSE said it has met 120 global investors out of a 150 target and secured $1 billion in commitments as qualified institutional buyers, with final pricing expected about two weeks after discussions with domestic funds.
NSE has begun its formal valuation process for what could be one of India’s biggest-ever IPOs after completing roadshows that drew strong institutional interest, LiveMint Markets reported, citing people familiar with the matter.
The expected pricing range is ₹2,500 to ₹2,800 per share, with final pricing slated for about two weeks after remaining discussions with domestic funds. Investors who joined the roadshow reportedly offered to buy shares at the top of the range to improve allocation chances.
During the outreach, NSE executives met 120 global investors out of a targeted 150 and secured $1 billion, or ₹10,000 crore, in commitments from qualified institutional buyers, according to LiveMint Markets.
NSE’s IPO is still awaiting regulatory approval, and the exchange has said it plans to launch the IPO by mid-September, with a possible listing by 25 September. LiveMint Markets also noted the offering includes an offer for sale of 148.9 million shares, equivalent to a 6% stake.