Veteran billionaire investor Radhakishan Shivkishan Damani could see the value of his National Stock Exchange (NSE) holding swing by nearly Rs 40 crore for every Rs 10 move in the exchange’s share price after listing.
Damani holds 3.91 crore NSE shares, representing a 1.58% stake in the exchange, according to its Red Herring Prospectus (RHP). At the upper end of the IPO price band of Rs 1,785, his holding is valued at around Rs 6,980 crore.
This means every Rs 10 rise in NSE shares would add roughly Rs 39.1 crore to the value of Damani’s stake, while a similar decline would wipe out an equivalent amount.
Damani is among the 20 shareholders with at least a 1% stake in NSE, according to the RHP, ranking 13th on the list. The largest shareholder is Life Insurance Corporation of India (LIC), which holds 26.53 crore shares, or 10.72% of NSE. At the upper end of the IPO price band, LIC’s holding would be valued at around Rs 47,351 crore.
Other major shareholders include Aranda Investments (Mauritius) Pte Ltd with a 4.54% stake, Stock Holding Corporation of India with 4.44%, SBI Capital Markets with 4.33%, Mahagony Limited with 3.73% and State Bank of India with 3.23%.
Several other institutional investors and public-sector entities also feature among NSE’s large shareholders. General Insurance Corporation of India holds 1.64%, while National Insurance Company, The New India Assurance Company and The Oriental Insurance Company each hold 1.42%, as per the RHP.
Together, the 20 shareholders listed in the RHP hold 130.59 crore NSE shares, representing 52.76% of the exchange’s pre-offer equity capital. At the upper end of the IPO price band, their combined holdings would be worth more than Rs 2.33 lakh crore.