India's NSE to Launch IPO Amid Investor Caution

MT Newswires Live
4 hours ago

The National Stock Exchange of India (NSE) is all set to launch its IPO on Thursday, according to market data from the NSE site.

The public offering, structured as an offer for sale, will see existing shareholders sell shares instead of the company issuing new stock.

The IPO will begin with anchor investor bidding from institutional funds, following which open subscriptions will begin Thursday, Sept. 18 and close Sept. 21, Reuters reported the same day.

The company will be valued at $46 billion, with shares being available for between 1,700 rupees and 1,785 rupees apiece, according to earlier reports.

The proposed price range is reportedly 15%-20% lower than initial roadshow expectations as investors show caution over slower growth in options trading amid modified regulatory measures, Reuters said citing people with knowledge of the matter.

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