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Investing.com-- India's National Stock Exchange is seeking a valuation of as much as 5.26 trillion rupees ($55 billion) in its planned initial public offering, with the exchange marketing shares at 2,000 to 2,100 rupees apiece, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The world's largest derivatives exchange by trading volume has completed most of its global investor roadshow, with meetings in the Middle East still pending, the report said. About 120 global investors, including BlackRock, Capital Group and GQG Partners, attended meetings across major financial centres.
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The IPO is now expected to launch in the second half of September, Bloomberg reported, after regulatory approval was delayed by about three weeks following changes to the list of selling shareholders.
At the top of the marketed range, NSE would rank sixth among global exchange operators by market value, Bloomberg said.
The offering will consist entirely of secondary share sales, with existing shareholders planning to sell as many as 148.9 million shares, or about 6% of the company. NSE has appointed 20 banks to manage the sale, the report added.
