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What is the story about?
The National Stock Exchange (NSE) has set the price band for its mega IPO which will open for subscription on Thursday, September 17, and close on Monday, September 21.
NSE plans to sell shares between ₹1,700 - ₹1,785 apiece. Each share will carry a face value of ₹1 each.
The size for one lot has been fixed as eight NSE shares and retail investors will have to make a minimum investment of ₹14,280 to bid for one lot, and bid in multiples of eight shares thereafter.
35% of the IPO is reserved for retail investors. 50% will be allocated to eligible institutional bidders (QIBs), while the rest will be for the non-institutional investors (NIIs).
At the upper end of the price band, the NSE IPO size will be ₹22,561.57 crore, which will make it the second-largest IPO in Indian history. This will also give NSE a market capitalization of ₹4.41 lakh crore.
Eligible employees who will bid for the IPO have been given a discount of ₹170 per share.
This also confirms a CNBC-TV18 newsbreak from earlier, which stated that the NSE will be selling shares in the ₹1,700 - ₹1,785 apiece.
The NSE IPO will be a pure Offer For Sale (OFS), which means that the company will not receive any proceeds from the offer.
NSE plans to sell shares between ₹1,700 - ₹1,785 apiece. Each share will carry a face value of ₹1 each.
The size for one lot has been fixed as eight NSE shares and retail investors will have to make a minimum investment of ₹14,280 to bid for one lot, and bid in multiples of eight shares thereafter.
35% of the IPO is reserved for retail investors. 50% will be allocated to eligible institutional bidders (QIBs), while the rest will be for the non-institutional investors (NIIs).
At the upper end of the price band, the NSE IPO size will be ₹22,561.57 crore, which will make it the second-largest IPO in Indian history. This will also give NSE a market capitalization of ₹4.41 lakh crore.
Eligible employees who will bid for the IPO have been given a discount of ₹170 per share.
This also confirms a CNBC-TV18 newsbreak from earlier, which stated that the NSE will be selling shares in the ₹1,700 - ₹1,785 apiece.
The NSE IPO will be a pure Offer For Sale (OFS), which means that the company will not receive any proceeds from the offer.
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