India ·
India’s National Stock Exchange files a 100%-secondary DRHP for what could be the country’s largest-ever listing
NSE itself raises no proceeds — the draft filing structures the entire ~14.89-crore-share offering as an OFS by existing shareholders including SBI, Canada Pension Plan Investment Board and Bank of Baroda, at an indicative valuation above ₹5 trillion ($58B+), giving long-time holders of the exchange’s famously illiquid unlisted stock a first clear exit path.
NSE's unlisted shares traded informally in India's grey market for years, with no formal price discovery mechanism — this DRHP filing is the first time that trading gets a real, regulator-sanctioned reference price.
Structuring the entire offering as an OFS by existing shareholders, rather than raising fresh capital, tells you this listing is fundamentally a liquidity event for long-time holders like SBI and CPPIB — not a fundraise for the exchange itself.
Source: Entrackr ↗