India: NSE files draft IPO papers, investors to divest 22.5% stake

Photo: Hemant Mishra/Mint

National Stock Exchange of India Ltd (NSE) on Wednesday filed its initial public offering (IPO) prospectus with market regulator Securities and Exchange Board of India (Sebi). The share sale is expected to be India’s second-biggest IPO.

According to the so-called draft red herring prospectus (DRHP), available on the website of the investment banks managing the IPO, existing shareholders of NSE are diluting a 22.5% stake in the exchange through an offer for sale.

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