CPPIB among investors looking to sell down stakes in India’s NSE IPO, sources say
The Canada Pension Plan Investment Board and Temasek are among 20 investors planning to sell stakes in India's National Stock Exchange during its upcoming IPO, valued at $55 billion. The IPO, which will see existing shareholders offload a 5% stake, marks a significant milestone after years of delays due to regulatory litigation. NSE's strong financial performance in derivatives trading has bolstered investor interest ahead of the listing.
- ▪The NSE IPO is valued at $55 billion, with a $2.75-billion share sale based on a 5% stake being sold by existing shareholders.
- ▪Among the sellers are CPPIB, Temasek, Life Insurance Corporation, State Bank of India, and ChrysCapital.
- ▪The NSE has been delayed in listing since 2016 due to litigation with SEBI, which is expected to be resolved through a monetary settlement.
- ▪NSE is the world’s most active equity derivatives trading platform and has 177,807 shareholders, making it India’s largest unlisted company by investor count.
- ▪The draft prospectus is expected to be filed with SEBI next month following the release of NSE’s financial results.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThe Canada Pension Plan Investment Board and Singapore’s state-owned investor Temasek are among 20 investors looking to sell down stakes when India’s National Stock Exchange goes public this year, sources familiar with the deal said.The share sale by India’s largest exchange would have a value of US$2.75-billion, based on a total valuation for the NSE estimated at US$55-billion by a platform that trades its unlisted shares.It will be one of two large share sales in India this year, along with an issue by billionaire Mukesh Ambani’s Reliance Jio Platforms.
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