November 13, 2024 00:50 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Ryanair flight en route to Manchester makes emergency landing at London airport after passenger dies midair | Manipur: 3 children, 3 women missing following Jiribam encounter which killed 10 suspected Kuki militants | Kerala IAS officer N Prashanth aka 'Collector Bro' suspended for calling senior bureaucrat 'psychopath' | Manipur: 11 suspected Kuki militants killed in retaliation against attack on CRPF post in Jiribam | Man who issued death threat to Bollywood star Shah Rukh Khan arrested from Chhattisgarh
NSE valuation doubles to $36 billion amid IPO speculation: Report
Photo courtesy: Wikipedia Creative Commons

NSE valuation doubles to $36 billion amid IPO speculation: Report

| @indiablooms | 26 Sep 2024, 12:06 pm

Mumbai: The National Stock Exchange of India (NSE) has seen its valuation in the private markets double to $36 billion in just four months, driven by investor optimism about a potential initial public offering (IPO) as early as the first quarter of next year, Bloomberg reported.

Unlisted shares of the world’s largest derivative exchange by contract volume are in high demand among wealth managers and their affluent clients eager to own a stake in the company, the sources said, speaking on condition of anonymity.

Recent transactions have seen these shares trading in the range of Rs 5,700 to Rs 6,500 ($68 to $78) each, significantly above previous levels.

The valuation could rise further in the coming months as the IPO plans progress, they added.

Trading of shares in privately-held firms usually occurs on specialized private platforms or through individual negotiations, making it difficult to ascertain the exact number of shares changing hands.

While the exchange is reportedly working towards completing the documentation for an IPO by early next year, the timeline could still be extended, the sources noted.

Earlier this month, the Securities and Exchange Board of India (SEBI) cleared NSE of any wrongdoing in a long-standing case of unfair market access, removing a significant obstacle for the exchange's public listing.

The case, dating back nearly a decade, involved allegations that brokerage OPG Securities Pvt. benefited from preferential access, leading to a six-month ban on NSE’s market activities and a financial penalty, the report said.

NSE, backed by prominent investors such as the Life Insurance Corporation of India and the Canada Pension Plan Investment Board, initially filed for an IPO in 2016.

However, the listing plans were delayed due to regulatory hurdles related to the market access case.

In May this year, private equity firm ChrysCapital Management Co., which holds a 4% stake in NSE, valued the exchange at around $17 to $18 billion during a $700 million continuation fund deal, the report said.

This recent surge in valuation reflects growing investor confidence in the company's prospects and the anticipation of its long-awaited public debut.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.