NSE Cuts Its IPO Valuation by 15% — and the Unlisted Market Is Still Pricier
NSE has cut the valuation of its initial public offering by roughly 15% and shrunk the deal to about ₹22,500–23,500 crore, down from an earlier plan of nearly ₹30,000 crore. The offer is entirely an offer for sale. Not a rupee of the proceeds goes to the exchange itself. The revised plan puts 12.64 crore shares on the block, against the 14.89 crore proposed earlier. That works out to about 5.25% of NSE's paid-up capital, down from nearly 6%. Two numbers moved. The float got smaller and the price got lower. Everything else in the revision follows from those two.
Original
