The National Stock Exchange is likely to set the price band of its upcoming Initial Public Offer between ₹1,750 to ₹1,785 per share, sources in the know told CNBC-TV18. At the upper end of the likely price band, NSE is likely to command a valuation of ₹4.41 lakh crore, the sources added.
The IPO is going to be a complete Offer For Sale. CNBC-TV18 has earlier reported citing sources that the NSE IPO is likely to be worth ₹30,000 crore, with the official price band likely to be announced on September 11, and the listing likely to take place on September 25.
A clutch of Public Sector companies along with Private Equity and Investment Banking firms are the selling shareholders in the NSE IPO as per the exchange's IPO documents. SBI, Bank of Baroda, Indian Bank, GIC Re, New India Assurance, United India Insurance, National Insurance, Oriental Insurance, StockHolding Corporation of India are classified as selling shareholders in the NSE IPO.
Among the private entities, Morgan Stanley, ChrysCapital, CPPIB or the Canadian Pension Fund, ICICI Lombard, Temasek, TA Associates among others are going to be the selling shareholders. NSE has a total of 1.7 lakh shareholders, which is the highest for any unlisted company.